Report: US Oil Output Jumps To Record High In March


In the first great Texas gusher, oil is discovered at Spindletop in Beaumont, Texas

Reuters Thursday, May 31, 2018

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Report: US Oil Output Jumps To Record High In March

{Strategically, this is good news if you consider Saudi output was just below this figure for the same period. – LS}

U.S. crude oil production jumped 215,000 barrels per day (bbl/d) to 10.47 million bbl/d in March, the highest on record, the Energy Information Administration (EIA) said in a monthly report on May 31.

Production in Texas rose by 4% to almost 4.2 million bbl/d, a record high based on the data going back to 2005. The Permian Basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oil field.

Output from North Dakota held around 1.2 million bbl/d, while output in the federal Gulf of Mexico declined 1.1% to 1.7 million bbl/d.

The agency also revised February oil production down by 5,000 bbl/d to 10.26 million bbl/d.

U.S. natural gas production in the Lower 48 states rose to an all-time high of 88.8 billion cubic feet per day (Bcf/d) in March, up from the prior record of 87.7 Bcf/d in February, according to EIA’s 914 production report.

Output in Texas, the nation’s largest gas producer, increased 1.3% in March to 22.7 Bcf/d, the most since April 2016.

In Pennsylvania, the second biggest gas producing state, production dipped to 16.4 Bcf/d in March, down 0.6% from February’s record high of 16.5 Bcf/d. That compares with output of 14.8 Bcf/d in March 2017.

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