The Energy Information Administration reported that May crude oil production collapsed by 1.989 million barrels per day (mmbd), averaging 10.001 mmbd. That compares to the EIA’s weekly estimates (interpolated) of 11.419 mmbd, a figure that was 1.418 mmbd higher.
Reductions were largest in Texas (764,000), North Dakota (353,000) and the Gulf of Mexico (300,000) and New Mexico (168,000). Given the huge reduction in May, production dropped by 2.112 mmb/d over the past 12 months. This number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply fell by an additional 680,000 b/d from a year ago.