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Supply squeeze: US oil output growth set to falter in 2025; S&P warns of sharp 2026 decline amid global glut

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The United States anticipates a significant slowdown in crude oil production growth by 2025. A sharper decline is expected in 2026. S&P Global Commodity Insights warns of a looming global oil surplus. Weak demand will impact the US disproportionately. OPEC+ members are fast-tracking the rollback of production cuts. This decision will add pressure on global supply balances.
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