US: Crude Output Tops 12mn B/D Despite Rig Count Slump

*US crude output has continued to edge higher despite the number of active drilling rigs falling in each of the last four months.

*The oil rig count was 816 as of 29 March, the lowest figure since March last year. Over the same period the country’s crude output has risen by 1.67mn b/d to a record 12.13mn b/d according to provisional EIA data. Latest EIA figures indicate a weekly output record of 12.20mn b/d in the final week of March. (CONTINUED - 179 WORDS)