SEATTLE (Oil Monster): U.S. crude oil production rose to 13.93 million barrels per day in April, the highest on record, monthly data from the Energy Information Administration showed on Tuesday, as producers ramped up output in response to higher oil prices owing to the Iran war.
Production rose by 216,000 bpd in April, EIA data showed, with production in New Mexico touching a record high of 2.37 million bpd.
Crude production in Texas edged 36,000 bpd higher to 5.83 million bpd, the highest since November. Texas and New Mexico are home to the Permian Basin, which accounts for roughly half of U.S. crude output.
Output from North Dakota, the third-largest producing state, also rose to 1.13 million bpd, the highest since November.
U.S. crude futures were trading around $70 a barrel. They had traded as high as $119.50 in March.
U.S. gross natural gas production eased to 135.3 billion cubic feet per day in April from 135.4 bcfd in March and a record 136 bcfd in December.
In top gas-producing states, monthly output in April rose 0.2% to a record 38.8 bcfd in Texas, but fell 1.1% to 21 bcfd in Pennsylvania, the EIA said.
That compares with a monthly all-time high of 38.7 bcfd in March in Texas and 21.9 bcfd in December 2021 in Pennsylvania.
U.S. crude and products supplied overall grew in April to 20.81 million barrels per day, the highest level since February, the data showed, with supplies of finished motor gasoline, a proxy for demand, rising to 9.12 million, the highest in eight months.
Distillate fuel oil supplied, however, fell in April to 3.89 million bpd, the lowest since December.
Courtesy: www.reuters.com
