Latest official US data, released 31 January, show a new crude output record of 13.31mn b/d for November, up 80,000 b/d on October and 60,000 b/d above September’s previous record high of 13.25mn b/d. Provisional weekly data indicate December output at similarly-elevated levels. But production likely fell below 13mn b/d for January as severe winter storms shut in output from the Bakken shale basin (MEES, 19 January).
The latest data show crude output rising by a fraction over 1mn b/d to a record 12.92mn b/d for 2023 as a whole with gains of over 1.5mn b/d to 19.34mn b/d when NGLs are added in. (CONTINUED - 109 WORDS)