After reaching 2022 highs in April, U.S. oil producers posted a modest decline in activity last week, while demand also ticked down amid high prices, the U.S. Energy Information Administration (EIA) said Wednesday.

WTI vs Brent oil prices

Production for the period ended May 6 totaled 11.8 million b/d, according to EIA’s latest Weekly Petroleum Status Report. That was down by 100,000 b/d from the prior three weeks, when output had held at its high point for the year so far.

While it marked at least a temporary easing in momentum, production remained above the 11.6 million b/d level at which it held most of the first quarter.

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American oil producers are trying to...