U.S. product supplied of crude and petroleum products, a proxy for demand, rose to 20.78 million barrels per day (bpd) in May, the highest since August 2019 before the coronavirus pandemic decimated global energy demand, Energy Information Administration data said on Monday.
Product supplied of finished motor gasoline rose in May to 9.11 million bpd, the highest since June 2022.
Meanwhile, U.S. field production of crude oil fell to 12.66 million bpd in May, the lowest since February, EIA data showed.
Production in Texas rose 0.9% to 5.5 million bpd, its highest on record dating back to 2005.
North Dakota output also rose by 0.9% to 1.1 million bpd in May, its highest since February.
However, production fell in New Mexico by 3.1% to 1.8 million bpd, the lowest since February.
Gross natural gas production in the U.S. lower 48 states, meanwhile, rose 705 million cubic feet per day to a record 114.97 billion cubic feet per day (bcfd) in May, according to the EIA’s monthly production report. That topped the prior all-time high of 114.27 bcfd in April.
In top gas-producing states, output in Texas rose 1.2% to a record 33.72 bcfd, while it rose 1.2% to 20.91 bcfd in Pennsylvania, its highest since January 2022.
Source: Hellenic Shipping News
