U.S. exploration and production (E&P) companies kept output for the week ended Nov. 18 at 12.1 million b/d, even with the prior week and generally on par with the level maintained through the fall, according to the Energy Information Administration (EIA).  

E&Ps raised production to a pandemic-era high of 12.2 million b/d at points in the summer but have scaled back modestly as demand has leveled off amid stubbornly high inflation and slowing economic activity in recent months. 

Overall petroleum demand in the United States fell 6% week/week for the Nov. 18 period, led lower by a decline in gasoline consumption ahead of the Thanksgiving holiday, EIA said in its latest Weekly Petroleum Status Report. Total products supplied over the last four-week period, meanwhile, averaged 20.7...