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US Crude Production Rose in May 2021

Reuters, July 30, 2021
Reuters

U.S. crude production rose 80,000 barrels per day in May to 11.231 million bpd, according to a monthly government report.

The Energy Information Administration also revised its estimate of April production by 18,000 bpd to 11.151 mln bpd.

Crude production has risen year-on-year but has not yet returned to pre-pandemic highs above 12.8 million bpd. A combination of a global price war and reduced demand due to the coronavirus cut U.S. production dramatically in 2020.

U.S. gasoline demand was 9.137 million bpd, up from 8.791 million bpd in April. Consumption of distillate fuel, including diesel, was 3.874 million bpd, down from 3.988 in April, the data showed.

While gasoline demand has rebounded from a lull during the coronavirus pandemic as travel restrictions reduced consumption, May 2021 demand remained below that seen in the same month in 2019.

Meanwhile, monthly gross natural gas production in the U.S. Lower 48 states edged up 0.1 billion cubic feet per day (bcfd) in May to a 14-month high of 103.4 bcfd, EIA said in its monthly 914 production report.

That was the third month of increases in a row.

Gross gas output peaked at 107.1 bcfd in December 2019.

In top gas producing states, output slipped 0.1% in Texas to 28.5 bcfd in May and rose 0.2% in Pennsylvania to 20.7 bcfd.

Production peaked at 29.9 bcfd in Texas in March 2020 and 21.2 bcfd in Pennsylvania in January 2021.


(Reporting By Jessica Resnick-Ault and Scott DiSavino; Editing by David Gregorio)

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Copyright 2021 Thomson Reuters. Click for restrictions.

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