U.S. Crude Oil Production Drops for First Time Since January, Gas Output Hits New Low
(Reuters) — U.S. crude oil production fell in May in its first monthly decline since January, while fell natural gas output decreased to its lowest since February 2023, data from the U.S. Energy Information Administration showed on Wednesday.
Crude oil production fell by 61,000 barrels per day (bpd) to 13.18 million bpd in May, as lower output from the Federal Offshore Gulf of Mexico and North Dakota offset record production in Texas and New Mexico, the EIA said.
Gross natural gas production in the U.S. Lower 48 states fell for a third month in a row in May to 113.8 billion cubic feet per day (Bcf/d), according to EIA's monthly 914 production report.
That was the first-time gas output fell for three months in a row since October 2020 and compares with a monthly record high of 118.2 Bcf/d in December 2023.
In the top gas-producing states, monthly output in May rose to a record high of 35.1 Bcf/d in Texas and a three-month high of 19.5 Bcf/d in Pennsylvania.
That compares with a monthly record high of 21.9 Bcf/d in Pennsylvania in December 2021.
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