In the US, they did not expect such a number of drilling rigs to stop: oil production will decrease

Oil production in the United States will decrease. This forecast is contained in the short-term energy review of the Office of Information of the US Department of Energy (EIA).

"We predict that U.S. crude oil production will decline from a historic high of 13.5 million barrels per day in the second quarter of 2025 to about 13.3 million barrels per day by the fourth quarter due to a reduction in operating rigs and lower oil prices," the document says.

As noted in the EIA, in May the number of working drilling rigs decreased much more than expected.

"With fewer rigs, we predict that American operators will drill and complete fewer wells by 2026. On an annual basis, we now predict that crude oil production will average slightly more than 13.4 million barrels per day in 2025 and slightly less than 13.4 million barrels per day in 2026," the EIA predicts.

They also believe that world oil prices will continue to decline and due to the growth of world reserves, the average price of North Sea Brent in 2025 will be $ 61, and next year - $ 59. At the same time, North American WTI is trading several dollars cheaper than Brent, and American oil companies call the profitability threshold for drilling wells at $ 65.

World oil prices dropped to $60-65 after Donald Trump unleashed a trade war and threatened many countries with import duties. At the same time, OPEC+ is restoring production and doing so in three-month increments. Some analysts believe that in this way Saudi Arabia and Russia wants to regain part of the market by reducing production in the United States.