EIA: US Crude Production Rises To Record As Drilling Climbs In Texas

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The tanker Maria sails out of the Port of Corpus Christi after discharging crude oil at the Citgo refinery in Corpus Christi, Texas, U.S., on Thursday, Jan. 7, 2016. Crude oil slid Thursday to the lowest level since December 2003 as turbulence in China, the worlds biggest energy consumer, prompted concerns about the strength of demand. Photographer: Eddie Seal/Bloomberg via Getty Images

NEW YORK, Aug 31 (Reuters) – U.S. crude oil production rose 231,000 barrels per day, or 2 percent, to a record 10.674 million bpd in June, the U.S. Energy Information Administration said in a monthly report on Friday.

The agency also revised its estimate for May up by 1,000 bpd to 10.4 million bpd.

U.S. output has been closely watched by crude oil markets, which have contended with concerns about oversupply as oil production ramps up and trade tensions between the United States and China weigh on global demand forecasts.

The gains reflected growing production on land in Texas, where output climbed 165,000 bpd, or 3.9 percent to 4.4 million bpd. Output also rose in the Gulf of Mexico, climbing 10.3 percent, or 154,000 bpd to 1.7 million bpd.

U.S. natural gas production in the lower 48 states rose to an all-time high of 90.8 billion cubic feet per day (bcfd) in June, up from the prior record of 89.9 bcfd in May, according to EIA’s 914 production report.

Output in Texas, the nation’s largest gas producer, increased 1.5 percent in June to 23.9 bcfd.

In Pennsylvania, the second biggest gas producing state, production rose 2.2 percent to 16.5 bcfd in June. The United States has been the world’s biggest producer of gas since 2009, ahead of Russia.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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