off-the-wire

UPDATE 2-US crude output fell in December to lowest since August 2022 - EIA

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds natural gas data) By Stephanie Kelly NEW YORK, Feb 28 (Reuters) - U.S. crude oil production fell in December to 12.10 million barrels per day (bpd), its lowest since August 2022, Energy Information Administration (EIA) data showed on Tuesday. Among the top oil producing states, monthly output in Texas sank 1.2% to 5.15 million bpd, also its lowest since August 2022, the EIA said. In North Dakota, output sank 12.5% to about 950,000 bpd, its lowest since April 2022.


In New Mexico, output grew 2.7% to 1.77 million bpd, the highest on record, the EIA said.


Meanwhile, product supplied - a proxy for demand - of crude and petroleum products fell in December to 19.49 million bpd, the lowest since March 2021, the EIA said.


Product supplied of finished motor gasoline fell in December to 8.57 million bpd, the lowest since January 2022, the EIA said. Gross natural gas production in the U.S. Lower 48 states dropped by 3.1 billion cubic feet per day (bcfd) to 109.2 bcfd in December from a record 112.3 bcfd in November, according to EIA's monthly 914 production report. That was the biggest monthly drop since output plunged by a record 7.9 bcfd during the February freeze of 2021.


In top gas producing states, monthly output in December fell 1.6% to 31.3 bcfd in Texas and 2.3% to 19.7 bcfd in Pennsylvania.


Gas output hit a record high of 31.9 bcfd in Texas in October 2022 and 21.8 bcfd in Pennsylvania in December 2021.
(Reporting by Stephanie Kelly and Scott DiSavino Editing by Marguerita Choy)

Messaging: stephanie.kelly.thomsonreuters.com@reuters.net))
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