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The rebound in US crude output has grabbed all the headlines. But output remains 370,000 b/d below the record 9.627mn b/d hit in April 2015. Not so NGLs, for which production continues to set new records.
Provisional weekly data shows that US crude output for April was 9.261mn b/d, up 185,000 b/d on March, 314,000 b/d on a year ago and almost 700,000 b/d on September’s 30-month low of 8.567mn b/d. NGLs meanwhile are up 119,000 b/d on a year ago and 309,000 b/d on April 2015.
Add the two together and, based on provisional weekly data, US petroleum output was 12.884mn b/d in April, up 433,000 b/d on a year ago, and just 56,000 b/d below April 2015’s all time high of 12.940mn b/d (see table, p13). (CONTINUED - 675 WORDS)
DATA INSIDE THIS ARTICLE
|chart||1: Total Us Oil Output Hits Record 14mn B/D In April, Reaches 70% Of Demand (Mn B/D)|
|chart||2: Us Output Rebound: Projections For Late-2018 Have Risen By 800,000 B/D Since The Start Of The Year (Mn B/D, By Date Of Forecast)|
|chart||3: Us Crude Output Vs Oil Rig Count|
|chart||4: Us Crude Exports Hit Record 1.116mn B/D In February (Mn B/D)|