The Energy Information Administration reported that November crude oil production averaged 11.900 million barrels per day (mmbd), up 345,000 b/d from October. This estimate capped a spectacular 6-month gain of 1.436 mmbd from June through November, a period when capacity takeaway constraints had been expected to slow down the growth in Texas.
The year-over-year gains have been especially impressive with the November figure being 1.801 mmbd. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply add to that. For November, that additional gain is about 500,000 b/d. Continue reading "U.S. Crude Production Outperforms In November"