EIA STEO: US oil production to average 13.83mln BPD in August (vs. 13.82mln BPD) in July; to average 13.77mln bpd in September

• 2026: 13.8mln bpd (prev. 13.78mln bpd)
• 2027: 14.15mln bpd (prev. 14.03mln bpd)
• August: 13.83mln bpd (Jul. 13.82mln bpd)
• September: 13.77mln bpd

• 2026: 20.6mln bpd (prev. 20.7mln bpd)
• 2027: 20.8mln bpd (prev. 20.8mln bpd)

• 2026: 111.2 bcf/d (prev. 111.2 bcf/d)
• 2027: 116 bcf/d (prev. 115.3 bcf/d)
• August: 122.6 bcf/d (Jul. 122 bcf/d)
• September: 123.2 bcf/d

U.S. Natural Gas Demand * 2026: 92 bcf/d (prev. 92.1 bcf/d) * 2027: 94.8 bcf/d (prev. 95 bcf/d)

The monthly Short-Term Energy Outlook is a forecast revision exercise rather than a hard data print, and the revisions here are marginal: output nudged higher across the horizon, demand trimmed slightly at the front, gas production raised further out. The established pattern with this release is that crude tends to react only when the revisions shift the implied balance in a direction the market has not already priced; incremental changes of this size have historically faded quickly, with positioning reverting to the weekly inventory and rig-count cadence. The more durable signal in past episodes has been the trajectory of the production profile itself: a rising plateau in US supply estimates has tended to cap rallies by reinforcing the non-OPEC supply narrative, while downward revisions have had more traction when they coincided with evidence of shale discipline or falling completion activity. The demand trim, though small, is the element worth tracking across successive editions, since a sequence of demand downgrades in the STEO has historically preceded similar moves in the other major agency outlooks. Follow-ons are the parallel monthly reports from the other agencies and the weekly petroleum status data for confirmation or contradiction of the supply path. As a forecasting document, the signal is directional and low in information content relative to the calendar around it.