US Crude Oil Production Hits New Heights in June Amid Rising Demand
US crude oil production and demand saw an increase in June, according to the Energy Information Administration's Petroleum Supply Monthly report. Crude oil production reached a level of 13.79 million barrels per day, up from 13.76 million barrels per day in May.
Demand for crude oil and petroleum products also rose to 20.74 million barrels per day in June, an increase from the previous month's figure of 20.07 million barrels per day. This is still below the monthly record of 21.67 million barrels per day set in August 2005.
US natural gas production climbed to 135.5 billion cubic feet per day in June, surpassing May's level of 134.2 billion cubic feet per day. Texas gas output hit a record high of 39.2 billion cubic feet per day in June, up from the previous monthly high of 38.9 billion cubic feet per day set in April.