U.S. Energy Secretary Pushes Back on the EIA's Oil Decline Narrative

Energy Secretary Chris Wright does not expect U.S. crude oil production to decline in 2026, although the Energy Information Administration forecast such a development. “That is a projection — we don’t know what’s going to happen next year,” Wright told Bloomberg in an interview. “We have seen weak prices for a few months, and if prices are too low for an economic incentive, you’ll see some drilling reduce on the margin. I think it’s unlikely you’ll see enough reduction to actually see a decline…