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AlwaysFree: EIA: US Oil Production Hits Record High, But Growth Slows


The US oil production hit a record high in September but the production growth slowed by half compared to a year ago, data from the US Energy Information Administration showed. The US produced 12.47 million bpd of crude oil in September, the highest in EIA’s record.

However, it only grew by 965,000 bpd from 11.5 million in September 2018, compared to an approximately 1.99 million-bpd growth from September 2017 to September 2018, EIA’s data showed. The US oil output growth peaked in August 2018, when it jumped by more than 2.11 million bpd from August 2017.

The US oil production is estimated to rise by 1.05 million bpd from 2018 to 2019, compared to 1.64 million-bpd increase from 2017 to 2018. According to EIA, monthly year-on-year US oil output growth fell to below 1 million bpd in July and September.

Oil production in Texas, the US top oil-producing state, broke a record of 5.23 million bpd in September. However, it only grew by 593,000 bpd from the same month last year, the weakest year-on-year expansion since October 2017. Oil production in North Dakota reached 1.4 million bpd in September, growing by just 58,000, the slowest increase since July 2017.

Tags: AlwaysFree,Americas,Crude Oil,EN ALWAYSFREE,Energy & Feedstocks,English,United States Energy Information Administration (EIA),US oil production,US oil production growth

December 3, 2019 5:44 PM (GMT+8)