The Energy Information Administration (EIA) reported that February crude oil production averaged 10.474 million barrels per day (mmbd), up 215,000 b/d from February, setting a new all-time record for the U.S. The large increase was on top of a 264,000 b/d gain in February.
The largest increases were recorded in Texas (159,000 b/d), New Mexico (38,000 b/d) and Oklahoma (15,000 b/d).
The EIA-914 Petroleum Supply Monthly (PSM) figure was 54,000 b/d higher than the weekly data reported by EIA in the Weekly Petroleum Supply Report (WPSR), averaged over the month, of 10.420 mmbd. EIA’s most recent weekly estimate for the week ending May 25th was 10.769 mmbd. Continue reading "U.S. March Crude Production Shows Large Gain"
