U.S. producers boosted output back up to the 2022 peak, but domestic demand also accelerated last week and is expected to continue climbing as Americans increase travel during the summer months.

The U.S. Energy Information Administration (EIA) said Wednesday production for the period ended May 13 totaled 11.9 million b/d, up by 100,000 b/d from the prior week. That put output on par with the highs of this year reached in April, according to EIA’s latest Weekly Petroleum Status Report.

Still, production remains more than 1 million b/d below the pre-pandemic high reached in early 2020, while demand is mounting.

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Domestic petroleum consumption for the latest EIA...