EIA data show that US oil production rose to record levels in May.

The U.S. Energy Information Administration reported on Thursday that U.S. crude production reached a record 13,49 million barrels per day in May, despite concerns about oversupply pushing the price of the commodity to its lowest level in four years.

Donald Trump, the U.S. president, has called repeatedly for increased oil production in the United States, whose output has already reached record levels each of the last two years. He has also taken steps to accelerate and expand drilling on federal land.

OPEC+ producers have also increased their output since May in an effort to regain market share lost to U.S. shale drilling companies. This has led some analysts to predict that the market will be oversupplied for this year.

The EIA data revealed that the U.S. crude oil production was up by 24,000 bpd from the previous record of 13,46 million bpd set in April.

The EIA reports that the output of the U.S. federal offshore Gulf Region increased by 0.5% in May from April, to approximately 1.80 million barrels per day, the highest level since December.

The data revealed that the output of Texas, the leading oil-producing state in the United States, increased to 5.752 millions bpd from 5.751million bpd during April.

The EIA reported that gross natural gas production for the lower 48 U.S. states reached a new record of 120.60 billion cubic feet per day (bcfd) in April. This was up from the previous all-time highest of 120.45 in March.

The EIA reported that in the top producing states of gas, Texas' monthly production fell by 0.3% in April to 36.75 Bcfd while Pennsylvania saw a 0.6% rise to 21.25 Bcfd.

(source: Reuters)