Kingdom Channel – Oil Production in the United States Decreases



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The US Energy Information Administration reported Wednesday in a monthly report that crude oil production in the United States fell 26,000 barrels per day in May, to 12.11 million barrels a day.

Information management also revised its April oil production estimates of 28,000 barrels a day to a record monthly level of 12.13 million barrels a day.

According to the data, production in Texas, the largest oil producing state, increased by 16,000 barrels per day to 4.97 million barrels a day, a new record; in New Mexico, it has increased from 33,000 barrels per day to 900,000 barrels per day. .

Production in North Dakota increased by 3,000 barrels a day to 1.36 million barrels a day, its highest level since December.

The decline in total production in the United States is mainly attributable to offshore deposits in the Gulf of Mexico, where production fell by 78,000 barrels per day.

Crude oil exports jumped to 2.9 million barrels per day (bpd) in May, close to the monthly record of 3 million bpd in February.

The data showed that overall oil demand in May fell from 98,000 barrels per day to 20.26 million barrels per day, while petrol demand fell 1.6%, or 149,000 barrels per day. day, at 9.4 million barrels a day.

Reuters

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