U.S. crude oil production jumped 260,000 barrels per day to 10.26 million bpd in February, the highest on record, according to the latest production report from the Energy Information Administration (EIA).
Output from Texas reached a record high of over 4 million barrels per day (bpd), up 106,000 bpd. Meanwhile, production from North Dakota declined marginally to 1.15 million bpd and output in the Gulf of Mexico increased by 89,000 bpd to 1.72 million bpd.
U.S. natural gas production in the lower 48 states rose to an all-time high of 87.6 billion cubic feet per day (bcfd) in February. Output in Texas, the nation’s largest gas producer, increased 1.5 percent in February to 22.4 bcfd, the most since December.
In Pennsylvania, production increased 2.1 percent to a record high 16.4 bcfd in February, up from 15 bcfd in the same month last year.
Total oil demand in February was up 2.4 percent, or 460,000 bpd, to 19.62 million bpd versus last year, EIA data showed, as strong demand for distillates helped soften weakness in gasoline demand.
Distillate demand in February was up 1.5 percent, or 57,000 bpd, to 3.96 million bpd versus last year.
Gasoline demand in February was down 1.9 percent, or 169,000 bpd, to 8.81 million bpd, EIA data showed. Gasoline demand was up 2.8 percent year-over-year in January.
For more information, visit: www.eia.gov
