The Energy Information Administration reported that September crude oil production rose by 286,000 barrels per day, averaging 10.860 mmbd. This follows a 399,000 b/d drop in August and a 2 million barrel per day collapse in May. The September 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.703 mmbd, a figure that was 157,000 b/d lower.
The primary cause of the rise in production was reversals in the US Gulf Coast from hurricane activity. USG production rose by 315,000 b/d from August, and Texas output fell 60,000 b/d, while Louisiana was unchanged.
Rebounds were largest in North Dakota (61,000 b/d) and New Mexico (19,000). Given the huge reduction in May and this reduction in August, production dropped by 1.609 mmb/d over the past 12 months. This number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply rose by 120,000 b/d from a year ago. Continue reading "U.S. Crude Oil Production Rises In September"