U.S. Energy Information Administration (EIA) reports

U.S. Crude Oil Production Hits Record 13.401 mb/d in August, EIA Reports

Oct 31, 2024, 05:52 PM

The U.S. Energy Information Administration (EIA) reported that U.S. crude oil production reached a record high in August, increasing by 195,000 barrels per day (kbd) to a total of 13.401 million barrels per day (mb/d). Additionally, total U.S. oil liquids output, which includes crude and natural gas liquids (NGLs), hit a record 20.4 million barrels per day (m/d). The Permian Basin continues to be a significant contributor to this increase. U.S. oil demand also exceeded expectations, coming in 290,000 barrels per day higher than the Short-Term Energy Outlook (STEO) report forecasts, while crude production was 42,000 barrels per day higher than STEO forecasts.