EIA data show that US oil demand and production fell to multi-month highs in November.

Data from the Energy Information Administration on Friday showed that U.S. oil output fell to its lowest level since July in November, while oil demand dropped to its lowest level since April.

The EIA reported that the crude oil output fell to 13,78 million bpd during November. This is down 82,000 compared to October's record 13.86 million. This is the first monthly decline in U.S. crude oil production since May 2025. It's also the largest fall since weather-related outages caused a slump in January 2025.

The U.S. ranks as the top oil producer and consumer in the world. The U.S.'s increased output, fueled by improved drilling techniques, contributed to the forecasts for a glut of oil this year. November's drop could lead analysts to reconsider their expectations.

EIA data revealed that total oil and petroleum demand in the U.S. dropped?619,000 barrels per day (bpd) to 20,23 million bpd, the lowest level since April. The EIA data revealed that gasoline demand dropped by 208,000 bpd and reached 8.68 million in November. Demand for distillate fuels (which includes diesel, heating oil, and other fuels) was also down by 278,000 bpd at 3.80 million.

The?EIA data revealed that U.S. Gross Natural Gas Production from the Lower 48 States rose to a new record of 134.1 billion cubic feet per day (bcfd), up from 130.7 in October.

This is a significant increase from the previous monthly record of 131.4 Bcfd, set in September.

The monthly output in Texas, one of the top gas producing states, rose by 2% in November to reach a monthly record high of 38.1 bcfd. The EIA reported that output in Pennsylvania also increased by 6%, to 21.1 Bcfd.

This compares to a previous monthly all-time low of 37.9 billion cubic feet per day in August in Texas, and a record of 21.9 billion cubic feet per day in December 2021 in Pennsylvania. (Reporting from Shariq Khan in New York and Scott DiSavino; editing by David Gregorio).

(source: Reuters)