US Oil Production Tops Record High in April Amid Iran Conflict

US oil production reached a new record high in April, reaching 13.93 million barrels per day, according to data from the Energy Information Administration (EIA). This marks an increase of 216,000 bpd from March and is the highest level ever recorded.

The Permian Basin, which accounts for roughly half of US crude output, saw production rise in both New Mexico and Texas. New Mexico's output reached a record high of 2.37 million bpd, while Texas' production edged up to 5.83 million bpd, the highest since November.

North Dakota also saw an increase in oil production, reaching 1.13 million bpd, the highest level since November. The rise in production comes as US crude futures trade around $70 a barrel, having reached as high as $119.50 in March.