U.S. crude oil and petroleum products supplied, 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 showed 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.North Dakota output also rose by 0.9% to 1.1 million bpd in May, its highest since February.Gross natural gas production in the U.S. Lower 48 states rose 0.7 billion cubic feet per day to a record 115.0 bcfd in May, according to the EIA's monthly 914 production report. That topped the prior all-time high of 114.3 bcfd in April 2023.
In top gas-producing states, monthly output in May rose 1.2% to 20.9 bcfd in Pennsylvania, the highest since January 2022, and rose 1.2% to a record 33.7 bcfd in Texas. That topped the prior all-time high of 33.3 bcfd in Texas in April 2023 and compares with a record 21.8 bcfd in Pennsylvania in December 2021.Our Standards:Houston-based energy reporter focused on oil markets and energy companies. Arathy closely tracks U.S. crude supply and its impact on global markets, ever changing crude oil flows, and reports on U.S. shale producers and oilfield service companies.
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