This post was originally published on this site

According to the latest Petroleum Supply Monthly from U.S. Energy Information Administration, U.S. monthly crude oil production surpassed 12 million barrels per day for the first time in April 2019. The U.S. produced 12.16 million b/d in April – up 246,000 b/d or 2.06 percent from a month earlier. The EIA added, “This milestone comes less than a year after U.S. crude oil production surpassed 11 million b/d in August 2018.” Production in the nation’s top producing state, Texas, was up 11,000 b/d to a record 4.97 million b/d. Federal Offshore Gulf of Mexico and Oklahoma also produced record volumes.

Reuters reported, “Booming shale production from places such as Permian Basin of west Texas have enabled U.S. oil output to overtake Saudi Arabia and Russia.” Jim Lucier of Washington, D.C.-based Capital Alpha Partners, told reporters, “Despite all the talk about Wall Street forcing capital discipline, we’re not seeing any diminishing production yet.”

EIA said Permian Basin accounts for 63 percent of Texas production and 96 percent of New Mexico production.


Please enter your comment!
Please enter your name here

3 + 5 =