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U.S. Oil Production Hits New 2022 Peak, but More Runway Ahead for Growth

U.S. Oil Production Hits New 2022 Peak, but More Runway Ahead for Growth

Domestic crude output reached a new high for the year as producers continue to gradually ramp up to meet summer demand, the U.S. Energy Information Administration (EIA) reported Wednesday. Production climbed to 12.1 million b/d for the week ended June 24, up 100,000 b/d week/week, according to the EIA’s Weekly Petroleum Status Report (WSPR). Exploration…

June 29, 2022
U.S. Oil Output Climbs Ahead of Biden’s Call for Action to Curb Energy Inflation

U.S. Oil Output Climbs Ahead of Biden’s Call for Action to Curb Energy Inflation

Crude output ticked up last week, reaching a new 2022 peak ahead of President Biden’s latest call for U.S. producers to boost activity in the face of soaring prices. The U.S. Energy Information Administration (EIA) said Wednesday output climbed to 12.0 million b/d for the week ended June 10, up 100,000 b/d week/week. It marked…

June 15, 2022
U.S. Crude Production Holds at Elevated Levels as Summer Demand Looms Large

U.S. Crude Production Holds at Elevated Levels as Summer Demand Looms Large

American crude producers last week held output at the high point for the year. Demand for petroleum products was flat from the prior week amid soaring prices, the U.S. Energy Information Administration (EIA) said Wednesday, but consumption is expected to mount this summer. U.S. oil production totaled 11.9 million b/d for the week ended May…

May 25, 2022
Domestic Oil Production, Demand Climb in Tandem as Summer Travel Nears

Domestic Oil Production, Demand Climb in Tandem as Summer Travel Nears

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…

May 18, 2022
U.S. Oil Output Holds at 2022 High as Demand Climbs Back

U.S. Oil Output Holds at 2022 High as Demand Climbs Back

For all the fear of lofty prices curbing demand, U.S. consumption of petroleum products rebounded for the week ended April 22 and producers maintained output at elevated levels by pandemic-era standards, the U.S. Energy Information Administration (EIA) said Wednesday. Demand climbed 4% week/week to 19.8 million b/d. It marked the second consecutive weekly gain after…

April 27, 2022
U.S. Oil Production Rises, Matching Pandemic High

U.S. Oil Production Rises, Matching Pandemic High

Domestic crude oil production edged upward last week, the U.S. Energy Information Administration (EIA) reported Wednesday. For the week ending April 1, U.S. crude oil production increased by 100,000 b/d to 11.8 million b/d, according to EIA’s latest Weekly Petroleum Status Report It was yet another weekly uptick in domestic oil output after spending February…

April 6, 2022
U.S. Oil Production Ticks Up First Time in Two Months; OPEC’s Next Move Looms Large

U.S. Oil Production Ticks Up First Time in Two Months; OPEC’s Next Move Looms Large

Contrary to the dominant theme of 2022, U.S. crude producers nudged output higher last week, while travel fuel consumption declined along with overall petroleum demand, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the week ended March 25 ticked up to 11.7 million b/d after holding at 11.6 million b/d through all of…

March 30, 2022
As Global Supply Worries Escalate, U.S. Oil Production Holds Stubbornly Flat

As Global Supply Worries Escalate, U.S. Oil Production Holds Stubbornly Flat

Even as sanctions mount against energy-rich Russia amid its war in Ukraine — intensifying concerns about global crude supplies — U.S. oil output is holding steady, the Energy Information Administration (EIA) said Wednesday. Production for the week ended March 4 held at 11.6 million b/d, EIA’s latest Weekly Petroleum Status Report showed. It hovered at…

March 9, 2022
U.S. Crude Stocks Drop as Production Levels Off, Demand Increases

U.S. Crude Stocks Drop as Production Levels Off, Demand Increases

Inventories of U.S. oil continued to decline early in 2022 – extending a trend that developed last year – as petroleum demand climbed and production ticked down, the Energy Information Administration (EIA) said Wednesday. For the week ended Jan. 7, domestic commercial crude inventories, excluding those in the Strategic Petroleum Reserve, decreased by 4.6 million…

January 12, 2022
U.S. Crude Production Holds Strong Even as Demand Tapers Amid Holidays, Omicron

U.S. Crude Production Holds Strong Even as Demand Tapers Amid Holidays, Omicron

U.S. oil producers, unfazed by the Omicron variant of the coronavirus and an anticipated lull in demand between the Christmas and New Year holidays, maintained production at a 2021 peak level during the final week of the year. The U.S. Energy Information Administration (EIA) said Wednesday that domestic crude output held at 11.8 million b/d…

January 5, 2022
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