*US crude output fell by 800,000 b/d to 10.28mn b/d for February as winter storms lashed Texas, the EIA’s latest Short Term Energy Outlook indicates. NGLs, output of which is more concentrated than crude in Texas’ key Permian and Eagle Ford shale basins, was as such even more heavily impacted, falling by 20% (1.01mn b/d) month-on-month to 4.17mn b/d for February, a three-year low.
*As such overall US oil output for February, at 14.45mn b/d, was also lower than last year’s nadir of 14.76mn b/d set in May 2020. The February 2021 figure was the lowest since February 2018 (see chart). (CONTINUED - 292 WORDS)
