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US’ oil production rises 1.7% in June

US’ oil production rises 1.7% in June

Arab Finance: The US production of crude oil increased by 1.7% in June, hitting its highest since April 2020, Reuters reported on August 31st, citing a monthly report by the US Energy Information Administration (EIA).

Output grew to nearly 11.8 million barrels a day (bpd) in June, versus about 11.6 million bpd in May, the report showed.

Moreover, the report highlighted that demand for US crude and petroleum products reached about 20.8 million bpd in June, marking its highest since August 2019.

Meanwhile, demand for motor gasoline grew to its highest since August 2021, reaching approximately 9.1 million bpd in June, the EIA revealed in the report.

In the US lower 48 states, the monthly gross production of natural gas recorded 109.3 billion cubic feet per day (bcfd) in June, the report added.

As for the monthly output in the top natural gas producers state, it edged up 0.4% to 31.1 bcfd in Texas, while it slipped 0.5% to about 20.6 bcfd in Pennsylvania.

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