American crude production climbed to a fresh 2022 high last week in the wake of political prodding to boost output amid global supply/demand imbalances. However, domestic demand eased even as prices slid lower, leaving the outlook for U.S. output murky.

Production for the week ended Aug. 5 climbed by 100,000 b/d to 12.2 million b/d, the U.S. Energy Information Administration (EIA) said Wednesday in its Weekly Petroleum Status Report.

EIA along with OPEC and the International Energy Agency (IEA) have noted a global rebound in demand this year, led by consumption of travel fuels. This followed the pandemic-induced doldrums of 2020 and a gradual recovery last year.

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