US Crude Output Hits Record High as Demand Falls
The US Energy Information Administration (EIA) released its Petroleum Supply Monthly (PSM) report, revealing that crude oil output rose in July while demand for petroleum products declined. Crude output climbed to 13.95 million barrels per day (bpd), surpassing the June figure of 13.84 million bpd and reaching a new record high.
This increase was however not met with a corresponding rise in demand, which fell to 20.61 million bpd in July, down from 20.74 million bpd in June. The EIA noted that this compares unfavorably to the monthly record high of 21.67 million bpd set in August 2005.
The EIA also reported that US gross natural gas production reached a new all-time monthly high of 137.0 billion cubic feet per day (bcfd) in July, up from 135.5 bcfd in June. This surpassed the prior record high of 136.0 bcfd set in December 2025.