From Investing.com: 2025-06-11 02:34:00

The Energy Information Administration predicts a decrease in US crude oil production next year. The European Commission is proposing a ban on refined product imports made from Russian crude oil. The EIA revised US crude oil production estimates downward for 2026, forecasting a decline of 50k b/d to 13.37m b/d. This would be the first annual decrease since 2021. Output growth for 2025 remains unchanged at 210k b/d YoY, reflecting recent drilling slowdowns. The European Commission’s proposed ban on refined product imports made from Russian crude oil could impact countries like India and Turkey, which export these products to the EU. The American Petroleum Institute reported a smaller-than-expected decline in US crude oil inventories, with increases in gasoline and distillate stocks.



Read more at Investing.com: Oil Market Faces Double Hit From US Output Cuts and Potential EU Import Ban