NEW YORK: US field production of crude oil rose in March to 12.696 million barrels per day, the highest since March 2020, when the coronavirus pandemic began to decimate global energy demand, Energy Information Administration data showed on Wednesday.
The higher crude output came as production in Texas rose 1.8% to 5.398 million bpd, also its highest since March 2020, the EIA data showed.
Consumption of crude oil has ticked higher since the pandemic, and after Russia’s invasion of Ukraine caused a global reshuffling of oil and its products.
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Production in North Dakota fell 2.9% to 1.095 million bpd, the lowest since January. In New Mexico, output gained 1.2% to a record high 1.824 million bpd.
Meanwhile, US product supplied of crude and petroleum products - a proxy for demand - rose to 20.449 million bpd, the highest since November 2022, EIA data showed.
Product supplied of finished motor gasoline rose in March to 9.007 million bpd, the highest since August 2022.
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