U.S. crude output last week held at robust levels as American exploration and production (E&P) companies remained active to bolster domestic supplies and help meet global demand.

E&Ps generated 12.3 million b/d for the week ended Feb. 24. That was on par with the highest level since March 2020, when the pandemic was declared. U.S. production also had held at this level through January and the first half of February, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status Report on Wednesday.

The EIA print eclipsed the year-earlier level of 11.6 million b/d. It kept inventories around the highest level since the onset of coronavirus outbreaks. U.S. commercial crude stocks for the Feb. 24 period, excluding those in the Strategic Petroleum Reserve,...