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US oil production exceeds 10 million barrels for the first time in 48 years

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rocky
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US oil production exceeds 10 million barrels for the first time in 48 years

Post by rocky on Thu 01 Feb 2018, 4:20 am

US oil production exceeds 10 million barrels for the first time in 48 years

 01 February 2018 11:44 p

[rtl]Direct: US oil production broke the 10 million barrels per day barrier for the first time in 48 years last November, which could increase pressure on crude prices.[/rtl]
 
[rtl]Oil production in the United States increased by 384,000 barrels per day (bpd) in November to 10.038 million bpd, according to data released by the US Energy Information Administration on Wednesday.[/rtl]
 
[rtl]The US production volume in November was slightly below the record level of 10.044 million bpd in 1970, the statement said.[/rtl]
 
[rtl]The Energy Information Administration revised its October results by 17,000 barrels to 9.654 million bpd.[/rtl]
 
[rtl]US oil production rose to 9.92 million barrels per day (bpd) in the week ending January 26, from 8.9 million bpd the previous week, the statement said.[/rtl]
 
[rtl]The US Energy Department announced yesterday that oil stocks in the United States for the first time in 11 weeks increased by 6.8 million barrels in the week ended on January 26, exceeding analysts' expectations of 0.1 million barrels.[/rtl]
 
[rtl]By 0830 GMT, the benchmark crude rose 0.3% to $ 69.09 a barrel, while US crude rose 0.5% to $ 65.04 a barrel. [/rtl]




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    Current date/time is Sat 17 Feb 2018, 9:19 pm