US Crude Production Falls by 0.2% in March

US Crude Production Falls by 0.2% in March

US Crude oil production fell by 0.2%, or 28,000 barrels of oil per day (bbl/d), to 12.7 million barrels per day (mmbbl/d), according to ReutersThis represents the lowest recorded level since October 2019 and the reduced production is in response to oversupply and low demand due to the coronavirus pandemic. 

Oil output fell in most states, and in federal waters in the Gulf of Mexico, but rose in Texas, the largest-producing state. Output in Texas climbed 1.2% to 5.42 mmbbl/d in March, according to EIA.

Monthly gross natural gas production in the US Lower 48 states, meanwhile, increased for the first time in four months to 105.41 billion cubic feet per day (bcf/d) in March from 105.21 bcf/d in February. The largest gas producing state in America, Texas, output rose 0.9% to a record 29.85 bcfd in March from 29.59 bcfd in February. In Pennsylvania, the second-biggest gas-producing state, output slipped 0.6% to 19.68 bcfd in March. The state’s all-time high was 19.92 bcfd in November 2019.


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