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2018-04-06 18:15:00

U.S. OIL PRODUCTION UP 5%

U.S. OIL PRODUCTION UP 5%

EIAAnnual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase of 464,000 b/d from 2016 levels after declining by 551,000 b/d in 2016. In November 2017, monthly U.S. crude oil production reached 10.07 million b/d, the highest monthly level of crude oil production in U.S. history. U.S. crude oil production has increased significantly over the past 10 years, driven mainly by production from tight rock formations using horizontal drilling and hydraulic fracturing. EIA projects that U.S. crude oil production will continue to grow in 2018 and 2019, averaging 10.7 million b/d and 11.3 million b/d, respectively.

Although much has changed since 1970, Texas continues to produce more crude oil than any other state or region of the United States. Texas has held the top position in nearly every year since 1970, with the exceptions of 1988, when Alaska produced more crude oil than Texas, and from 1999 through 2011, when production from the Federal Gulf of Mexico was higher.

Texas crude oil production averaged 3.5 million b/d in 2017 and reached a record high monthly level of 3.95 million b/d in December 2017. Texas's 2017 annual production increase of nearly 300,000 b/d—driven by significant growth within the Permian region—was more than all other states and the Federal Gulf of Mexico combined.

Growth in the Permian region, which spans parts of Texas and New Mexico, also contributed to a 74,000 b/d production increase in New Mexico, the state with the second-largest growth in 2017. New Mexico surpassed California and Alaska to become the third-largest crude oil-producing state in the second half of 2017, although it produced less than those states on an annual average basis.

In the Federal Gulf of Mexico, new projects and expansions that started in 2016 ramped up production in 2017, which, along with two other projects that began in 2017, contributed to 51,000 b/d of annual growth to reach the highest annual average crude oil production from the Federal Gulf of Mexico. The Federal Gulf of Mexico was the second-largest producing region in 2017.

Production levels in Colorado, Oklahoma, and North Dakota each grew by more than 30,000 b/d from 2016 to 2017, while Alaskan production increased only slightly. California's production declined 34,000 b/d, the state's third consecutive annual decline.

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Earlier:

 N.America
2018, April, 2, 09:35:00

U.S. OIL PRODUCTION UP 1.14 MBD

EIA - US oil production averaged 9.964 million b/d in January, up nearly 1.14 million b/d compared with January 2017, but about 102,000 b/d below November's record domestic output,

 

 N.America
2018, March, 30, 11:00:00

U.S. RIGS DOWN 2 TO 993

BAKER HUGHES A GE - U.S. Rig Count is down 2 rigs from last week to 993, with oil rigs down 7 to 797, gas rigs up 4 to 194 and miscellaneous rigs up 1 to 2. Canada Rig Count is down 27 rigs from last week to 134, with oil rigs down 22 to 71 and gas rigs down 5 to 63.

 

 N.America
2018, March, 16, 10:20:00

U.S. OIL PRODUCTION UP 5%

EIA - Annual average U.S. crude oil production grew by 463,000 barrels per day (b/d) in 2017 to 9.3 million b/d after declining by 551,000 b/d in 2016.

 

 

 N.America
2018, March, 14, 11:00:00

U.S. OIL + 131 TBD, GAS + 969 TBD

EIA - Crude oil production from the major US onshore regions is forecast to increase 131,000 b/d month-over-month in April from 6,823 to 6,954 thousand barrels/day , gas production to increase 969 million cubic feet/day from 65,150 to 66,119 million cubic feet/day .

 

 N.America
2018, March, 12, 08:40:00

U.S. OIL & GAS: 10.3 MLN JOBS

API - “The oil and natural gas industry is a major contributor to the American economy and helps meet America’s constantly increasing energy needs. We support more than 10.3 million U.S. jobs and contribute $1.3 trillion to the U.S. economy - benefits that are felt across the country,” said API Director of Upstream and Industry Operations Erik Milito.

 

 N.America
2018, March, 9, 13:35:00

U.S. OIL EXPORTS - 2017: 1.1 MBD

EIA - Exports grew to 1.1 million barrels per day (b/d) in 2017, or 527,000 b/d (89%) more than exports in 2016, in the second full year of unrestricted U.S. crude oil exports. This is the largest single year-over-year increase of a petroleum (crude oil and petroleum products) export since 1920.

 

 N.America
2018, February, 27, 13:55:00

U.S. OIL PRIODUCTION UP TO 10.2 MBD

API - U.S. crude production rose to 10.2 million barrels per day (MBD) in January – the highest monthly output on record, according to API’s monthly statistical report. This was an increase of 1.1 percent versus December and 15.1 percent from January 2017.

Tags: USA, OIL, PRODUCTION