Crude Production Hits All-Time High, an Industrial Info Market Brief
Attachment: production
U.S. crude oil output hit an all-time high of more than 11.5 million barrels per day (BBL/d) in October, according to U.S. Energy Information Administration (EIA) data released on December 31. U.S. oil production has set record highs for five straight months since June. The U.S. has become the world's leading crude producer, surpassing Russia and Saudi Arabia. Production out of Texas increased to 4.7 million BBL/d. With lower prices, it is unlikely that the strong production growth rate will continue in the first part of 2019.
