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Oil: U.S. production is rising - Commodities

Oil: U.S. production is rising – Commodities

Data disseminated by US Energy Information Administration (EIA) to show that US oil production It rose 1.7% in June, marking the highest level since April 2020.

More broadly, technologists US Energy Information Administration to show that US oil production It was 11.8 million barrels per day in June against 11.6 million barrels per day recorded in May; In 2020, producers drastically reduced their production after a slump in demand triggered by restrictions introduced to combat the spread of the coronavirus.

Manufactured in North Dakota Crude oil rose 3.4% in June to about 1.1 million barrels per day, the highest level since March, the report said. EIAWhile manufacturing New Mexico It rose 2% to 1.5 million barrels a day, setting a new all-time high; Production Texas (-0.1%) fell below 5 million barrels per day, the lowest level since January.

Natural gas

there US Total Monthly Natural Gas Production rose to 109.3 billion cubic feet per day (bcfd). Texas Records all-time high with production at 31.1 bcfd (+ 0.4%) against a decline of 0.5% PennsylvaniaGas production is around 20.6 bcfd.

there Demand for US crude oil and petroleum productsBack in June, it was at its highest level since August 2019 at 20.8 million barrels per day.

Source Reuters

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