Data from the Energy Information Administration showed on Wednesday that U.S. field crude oil production rose in March to 12.696 million barrels per day, the highest level since March 2020, when the coronavirus pandemic began to curb global energy demand.
The administration's data showed that the rise in crude production came as production in Texas increased 1.8% to 5.398 million barrels per day, also the highest level since March 2020, crude oil consumption has risen since the pandemic, and Russia's war on Ukraine last year caused a global restructuring of the oil and derivatives sector.
Production in North Dakota fell 2.9 percent to 1.095 million bpd, the lowest since January, and in New Mexico, output rose 1.2 percent to a record 1.824 million bpd.
The administration's data also showed that the supply of US crude and petroleum derivatives products rose to 20.449 million barrels per day, the highest level since November 2022, and total natural gas production in the 48 neighboring US states rose 0.8 billion cubic feet per day to 113.8 billion cubic feet per day in March, according to the monthly production report issued by the Energy Information Administration, surpassing the previous all-time high of 112.9 billion cubic feet per day. in February 2023.
In the most gas-producing state, monthly production in March rose 1.3 percent to 20.7 billion cubic feet per day in Pennsylvania and 2.3 percent to a record 33 billion cubic feet per day in Texas.
That surpassed the previous all-time high in Texas of 32.4 billion cubic feet per day in January 2023 compared to a record of 21.8 billion cubic feet per day in Pennsylvania in December.