US Crude Output Sets New Monthly Production Record
US Crude Output Sets New Monthly Production Record What I Cover Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and… According to monthly data released Tuesday by the U.S.
Energy Information Administration (EIA), U.S.
crude oil production climbed to a record13.934 million barrels per day(bpd) in April—the highest monthly production rate ever recorded.
The new record surpassed March's 13.718 million bpd by 216,000 bpd, as producers responded to the oil price spike triggered by the Iran war and the closure of the Strait of Hormuz.
While oil prices have since retreated as exports from the Persian Gulf gradually resume, April's data captures the industry's response when crude briefly flirted with $120 per barrel.
The Permian Basin once again did the heavy lifting.
New Mexico set a new production record at 2.37 million bpd, while Texas boosted output to 5.83 million bpd, its highest level since November.
North Dakota also posted its strongest production since November at 1.13 million bpd.
The monthly figures also help explain the disconnect that many analysts noticed over the past several weeks.
Weekly EIA estimates had already suggested U.S.
production was hovering near record territory, climbing from13.66 million bpdin late March to more than 13.8 million bpd through June.
The monthly data now confirms those gains weren't statistical noise.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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