US crude output hits record 13.93 million barrels per day
US crude oil production reached a record 13.934 million barrels per day in April, according to the Energy Information Administration's monthly Petroleum Supply report. The monthly increase of 216,000 barrels compared with March was largely driven by a 129,000-barble rise in the Gulf of Mexico, where elevated oil prices prompted operators to loosen production chokes and accelerate well completions. Total US oil output, including natural gas plant liquids, also climbed to a revised high of 21.836 million barrels daily, surpassing initial weekly estimates by 565,000 barrels.
Consumption and exports simultaneously set new benchmarks, reinforcing a market where supply growth is closely offset by demand. Total oil demand rose 595,000 barrels per day to 20.808 million, with gasoline leading the gain at 213,000 barrels. Crude exports reached 5.593 million barrels daily, with the Netherlands, South Korea, and Japan as the top destinations. Despite the production surge, commercial crude inventories were revised down to 451.997 million barrels, roughly 5.2 million barrels below the EIA's earlier weekly tracking. That discrepancy will likely force downward adjustments in upcoming weekly inventory reports, signaling that barrels are leaving storage faster than current output levels can replace them.
From the sources (18 posts)
@tomklozaRecord US output of crude displayed in this morning's Petroleum Supply Monthly from EIA. Thanks mostly to a 129,000 b/d rise in Gulf of Mexico production, total US output hit 13.934-million b/d; up 216k on the month and 468k year-over-year.
@staunovoUS crude production was at 13.934mbpd in April vs 13.718mbpd in March (revised from 13.696) m/m changes in kbpd US +216 Gulf of America/Mexico +119 New Mexico +65 Texas +36 North Dakota +8 Ohio +6 Oklahoma -12 EIA #oott
@kalshiJUST IN: US strategic oil reserves fall to "lowest" level since 1983
@tomklozaIf you think the second mo. of the Iran War led to US gasoline demand destruction, today's EIA report tells a different story. April gas demand measured at 9.123-mbd, up 270,000 b/d from March and the highest April level since 2019. Number
@joshyoungUS oil production achieved a new record of over 13.9 million bpd in April. Multi-year high oil prices induced accelerated well completions and loosening of chokes and valves of existing wells. Robbing from the future to produce today. H
@staunovoUS petroleum inventories (crude, SPR, refined products) fell by 53.929mb m/m to 1,641.477mb in April NGL inventories rose by 8.118mb in April EIA #oott
@staunovoUS crude exports were at record 5.593mbpd in April Top buyers in kbpd Netherlands 1,210 South Korea 840 Japan 660 Canada 415 Italy 301 Singapore 299 EIA #oott
@staunovoUS refined products exports were at record 8.017mbpd in April Top buyers in kbpd Mexico 964 China 763 India 676 Japan 626 Canada 490 Netherlands 440 EIA #oott
@tomklozaAnother new record established in April Petroleum Supply Monthly. Total crude & products exports topped 13.6-million b/d. Compare that to August 2005 when Katrina came ashore and we only exported 1.295-million b/d. Ten times as much oi
@staunovoRT @TomKloza: If you think the second mo. of the Iran War led to US gasoline demand destruction, today's EIA report tells a different story…
@staunovoUS oil demand y/y growth by product in kbpd in April Total +595 to 20,808 Gasoline +213 to 9,123 Distillate +4 to 3,887 NGL +242 to 3,489 Jet fuel +50 to 1,814 Still gas to +9 to 620 Residual fuel oil +84 to 377 Asphalt +38 to 354 EIA #oo
@oilheadlinenewsUS oil demand was up 595kbpd or 2.9% y/y to 20.808mbpd in April, a new record high for the month of April - EIA - @staunovo
@anasalhajji🚨Surprise! US crude oil production INCREASED by 216 kb/d in April to 13.934 mb/d. Some of that increase came from shale plays, mostly the Permian. GOM (Now GOA) added almost 100 kb/d)
@gbrew24US almost cracked 14m bpd in crude output in April. It seems likely to crack it in May or June.
@anasalhajjihighest on record!
@jackprandelli🛢️ 2 numbers from the latest EIA data tell the whole US oil story: inventories are draining fast, and both production and exports just hit records. US petroleum inventories fell by 53.9 million barrels month-on-month in April, down to 1,
@javierblasUS total oil production -- and crude output -- rose to a record high in April, according to revised @EIAgov data. The monthly data pegs US total oil output at 21.836m b/d in April (up 565,000 b/d from the initial estimate for the month bas
@hfi_researchEIA’s petroleum supply monthly report for April showed ending US commercial crude storage at 451.997 million bbls versus EIA’s 457.812 million bbls. This means that the incoming weekly inventory reports will have to adjust inventory down