US Crude Output Holds at 13.7 Million BPD as Texas Falls to 4-Month Low
Updated
Updated · Reuters · May 29
US Crude Output Holds at 13.7 Million BPD as Texas Falls to 4-Month Low
4 articles · Updated · Reuters · May 29
U.S. crude production was essentially flat in March at 13.7 million barrels per day, the EIA said, while Texas output slipped to 5.78 million bpd and New Mexico held at 2.31 million bpd.
Texas and New Mexico anchor the Permian Basin, which supplies roughly half of U.S. crude, making the Texas decline the key drag even as national output stayed steady.
Operators are expected to have raised production after March as oil prices climbed during the Iran war; U.S. crude futures traded around $88 a barrel on Friday.
U.S. natural gas production rose to 135.52 billion cubic feet per day in March, with Texas hitting a record 38.68 bcfd even as Pennsylvania fell 0.5% to 21.29 bcfd.
U.S. crude and product supplied dropped to 20.38 million bpd, the lowest since November, though demand still ran 2.2% above a year earlier.
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