US oil and gas production hits all-time high, says energy secretary

The US energy secretary has announced that the country’s oil and gas production is at an unprecedented peak. This development aligns with recent data from the Energy Information Administration (EIA), which reported record levels in crude oil and natural gas output. In April 2026, U.S. crude production reached a monthly high of 13.93 million barrels per day, while natural gas production hit 136 billion cubic feet per day in December 2025. The energy secretary’s statement comes amid ongoing discussions about the impact of increased supply on global oil prices. Market activity suggests a correlation between this announcement and a decrease in the likelihood of crude oil reaching a new all-time high by September 30. The current pricing indicates a 2.2% probability for this scenario, down from 3% a day ago. Analysts are closely watching for potential shifts in market dynamics that could influence these odds further. Key Takeaways The US energy secretary’s announcement appears consistent with recent EIA data confirming record oil and gas production. Market pricing suggests a decrease in the likelihood of crude oil hitting a new all-time high by September 30. The probability for reaching ...