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U.S. crude oil production increases last week

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Christian Fernsby ▼ | August 1, 2019
U.S. crude oil production increased slightly during the week ending July 26, U.S. Energy Information Administration (EIA) said Wednesday.
Oil rig count
America   This was the first week that the U.S. crude oil production increased
According to the EIA, U.S. crude oil production averaged 12.2 million barrels per day (b/d) last week, up by 900,000 b/d from the previous week and up by about 1.3 million b/d year on year.

This was the first week that the U.S. crude oil production increased after decreasing for two consecutive weeks.

In its latest Short-Term Energy Outlook (STEO) released earlier this month, EIA forecast annual U.S. crude oil production will average 12.4 million barrels per day (b/d) in 2019 and 13.3 million b/d in 2020, with most of the growth coming from the Permian region of Texas and New Mexico.


 

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