Consolidation likely ahead – UOB

The post U.S. Oil Production Is On Pace For A New Record, But Growth Is Slowing appeared on BitcoinEthereumNews.com. FORT STOCKTON, TEXAS – MARCH 24: The sun sets behind a pumpjack during a gusty night on March 24, 2024 in Fort Stockton, Texas. Employment in Texas has reached record highs, with the oil- and gas-producing Permian Basin, which covers a large swathe of west Texas, leading the way. Permian Basin towns of Midland and Odessa notched 2.6 and 3.5 percent unemployment respectively, according to the report touted earlier this month by Gov. Gregg Abbott. (Photo by Brandon Bell/Getty Images) Getty Images For the past two years, the United States has set oil production records. This growth is a continuance of the surge in oil production resulting from the shale boom that began earlier this century. According to data from the Energy Information Administration, U.S. oil production average 13.2 million barrels per day in 2024, up from 12.7 million in 2023 and 12.5 million in 2022. U.S. Oil Production 1860-2024. Energy Information Administration It is now clear that the U.S. is on track this year to set its third consecutive annual record for crude oil production. Year-to-date production through the week ending September 12, 2025 shows a production level of 13.44 million BPD, which is about 1.9% ahead of last year’s record pace. But beneath those headline numbers, a subtle shift is underway: growth is slowing. The slowdown becomes clear if we look at the year-over-year percentage changes over the past 20 years. Annual Oil Production Change 2006-2025 YTD. Robert Rapier There have been only two other periods in the past 20 years where U.S. oil production growth slowed for three consecutive years, but both of those instances had extenuating circumstances. The first was from 2014 through 2016, when a price war launched by OPEC triggered a collapse in oil prices and forced U.S. producers to slash drilling activity. The…

The post Silver Prices Edge Closer to a Pivotal Support and Resistance Test appeared on BitcoinEthereumNews.com. The silver market, although experiencing recent

KAUFMAN. Former president Rodrigo Duterte's lawyer Nicholas Kaufman delivers his opening statement before the ICC Pre-Trial Chamber I on February 23, 2026.