US crude output rose in January to highest since March 2020 - EIA

Credit: REUTERS/Nick Oxford

By Stephanie Kelly

NEW YORK, March 31 (Reuters) - U.S. field production of crude oil rose in January to 12.46 million barrels per day, the highest since March 2020, Energy Information Administration data showed on Friday.

Among the top oil producing states, monthly output in Texas rose 1.5% to 5.24 million bpd, the highest since March 2020, the EIA said. In North Dakota, output jumped 10.2% to about 1.05 million bpd, the highest since November 2022.

In New Mexico, output grew 1.1% to 1.79 million bpd, the highest on record, the EIA said.

In the federal offshore Gulf of Mexico, production surged 7% to 1.91 million bpd, the highest since March 2020.

Meanwhile, U.S. product supplied of crude and petroleum products - a proxy for demand - rose to 19.54 million bpd, highest since November 2022, EIA data showed. Product supplied of finished motor gasoline fell in January to 8.28 mln bpd, lowest in a year.

(Reporting by Stephanie Kelly and Scott DiSavino; Editing by Josie Kao)

((Stephanie.Kelly@thomsonreuters.com; 646-223-4471; Reuters Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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