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U.S. Oil Production Defies Low Prices

WSJ.com: US Business •
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American oil producers have stunned analysts by maintaining record output despite crude prices falling below $60 per barrel. The shale boom continues to drive production higher even as market conditions suggest a slowdown.

Major drillers like ExxonMobil and Chevron have kept their rigs running at full capacity, pushing U.S. production to historic levels. This resilience has helped President Trump's administration highlight energy independence, with domestic output now exceeding 13 million barrels per day.

However, industry analysts warn this production surge cannot last indefinitely. Many smaller operators are already scaling back exploration budgets as profit margins shrink. The coming months will test whether the oil patch's remarkable endurance was a temporary phenomenon or signals a new era of American energy dominance.