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 and production (E&P) companies are trying to strike a balance between investments in long-term renewable energy projects and quenching the world’s current thirst for oil.  

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