EIA: US oil production reached record high in June
The U.S. crude production reached a record in June. It increased by 133,000 barrels a day, to 13,58 million bpd. This is according to the latest data from the Energy Information Administration's Petroleum Supply Monthly.
The EIA reported that crude production in Texas, the top producer, increased by 11,000 barrels per day to reach 5.72 million barrels per day, its highest level since April. New Mexico's second largest producer saw its output rise by 40,000 bpd over the past month to 2,24 million bpd. This was the highest level since March.
According to the EIA, the output of the U.S. offshore Gulf region has reached its highest level since October 2023. It increased by 67,000 bpd, reaching 1.92 million bpd.
The product supplied of crude oil and petroleum products, which is a proxy for the demand in the U.S. rose by 684,000 barrels per day (bpd) in June, reaching its highest level since October 2024 at 21 million bpd.
The demand for gasoline rose by 205,000 bpd from June to 9,23 million bpd. This is the highest demand since July 2024. Jet fuel demand also increased to its highest level since August 2018, gaining 84,000 to 1,85 million bpd.
The agency's 914 report on production shows that the gross natural gas production of the lower 48 U.S. states reached a record 120.7 bcfd per day in June. This is up from 120.2 bcfd per day in May.
This compares to the previous monthly record of 120.5 bcfd, which was in March.
The EIA reported that in the top-producing gas states, in June, output rose 0.7% in Texas to 36.8 Bcfd, and by 1.0% to 21.5 Bcfd, in Pennsylvania. Reporting by Georgina Mccartney in Houston, Shariq Khan from New York and Jan Harvey. Editing by Kiri Donovan.
(source: Reuters)
