• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Even Shell Agrees with Climate Change!
  • 8 days America should go after China but it should be done in a wise way.
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

EIA: U.S. Crude Oil Production Rates Sag In October

Crude oil production in the United States fell in the month of October, according to new data released by the Energy Information Administration on Friday.

According to the latest data, average U.S. crude oil production fell from 13.252 million barrels per day in September to 13.248 million bpd in October—the first monthly decline in average daily production rates since April, but still the second-highest production rate in the history of the U.S. oil industry, behind only September. It is also 1.377 million bpd higher than pre-pandemic levels seen in January 2019.

But while the daily average was down month over month, total production for October rose to 410.7 million barrels, compared to 397.6 million barrels in September—a difference of 13.1 million barrels, which roughly accounts for the extra day.

While production rates were down month over month from September to October, EIA data shows an increase in production rates from January to October. U.S. crude production in January totaled 389.6 million barrels—or 12.6 million barrels per day—compared to the 410.7 million in October—or 13.2 million barrels per day.

The EIA had previously forecast that U.S. crude oil production for October would average 13.257 million bpd.

By state, Texas, New Mexico, Colorado, and Alaska account for a 57,000 bpd increase in production, while the largest declines were seen in North Dakota (-31,000 bpd) and the Gulf of Mexico (-40,000 bpd), according to the EIA data.

In the agency’s latest edition of its Short Term Energy Outlook published earlier this month, the EIA forecast 2024 crude oil production in the United States at 13.11 million bpd, compared to the forecast for 2023 of 12.93 million bpd.

The Energy Information Administration releases monthly production data on the last business day of the month.


By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News