U.S. oil production reaches 13.46 million barrels in October.

Arabictrader

Wednesday 01 January 2025 06:59am

News / Commodity news

U.S. oil production reaches 13.46 million barrels in October.
نفط

Data from the U.S. Energy Information Administration released on Tuesday indicated that U.S. crude oil production rose by 260,000 barrels per day compared to September, reaching 13.46 million barrels per day in October.

The annual increase in U.S. oil production was 2.3%, driven by the highest levels of demand since before the COVID-19 pandemic, despite a year-on-year decline in crude oil prices in October.

At the same time, demand for petroleum products—a key metric tracked by the Energy Information Administration—rose to 21.01 million barrels per day, the highest level since August 2019.


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