Washington: The US Energy Information Administration (EIA), under the Department of Energy, has released its forecast for global daily production of oil and other liquid hydrocarbons for the years 2026-2027. The updated forecasts reveal a shift in projected production levels for these years.

According to Azeri-Press News Agency, the EIA's monthly report indicates that global daily production of liquid hydrocarbons is expected to average 109.47 million barrels in 2027, a slight decrease from the previous forecast of 109.61 million barrels. This revised forecast represents an increase of 5.2 million barrels over the projected figure for 2026.

The EIA has also adjusted its forecast for 2026, projecting that global daily production will average 104.27 million barrels, which is 2.77 million barrels lower than the previous estimate. These changes reflect ongoing evaluations and adjustments by the administration in response to global market conditions.

In 2025, global daily production of liquid hydrocarbons was recorded at an average of 106.3 million barrels, marking an increase of 3.13 million barrels compared to 2024, which saw an average production of 103.17 million barrels. This upward trend highlights the growth trajectory in production leading up to the revised forecasts for 2026 and 2027.

In 2023, global daily production of liquid hydrocarbons averaged 102.02 million barrels, setting a baseline for the increases projected in the subsequent years. The EIA's revised forecasts are crucial for stakeholders in the energy sector as they plan for the future.