The EIA sees Alaskan crude output up 13% in 2027 to 505k b/d, the most since 2014, driven by ConocoPhillips' Nuna and the Santos/Repsol Pikka Phase 1 ramp. That marks the first real Alaska growth sinc

What happened: The EIA forecasts Alaskan crude oil production will rise, driven by two North Slope projects, after decades of decline. Key numbers: 23,000 b/d (6%) increase in 2026; 60,000 b/d (13%) rise in 2027; forecast 505,000 b/d in 2027, the most since 2014; third-quarter 2026 production grew 4% as Pikka Phase 1 came online. Why it matters: If realized, the annual increases would be the largest since the 1980s, when Alaskan production peaked at 2.0 million b/d. The third-quarter 2026 gain marked the first such increase in more than 40 years. Coverage: 3 outlets in 24h

The EIA forecasts Alaskan crude oil production will rise, driven by two North Slope projects, after decades of decline.

If realized, the annual increases would be the largest since the 1980s, when Alaskan production peaked at 2.0 million b/d. The third-quarter 2026 gain marked the first such increase in more than 40 years.