US oil production grows by more than 500,000 barrels per day

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The US Energy Information Administration said in a monthly report today, Wednesday, that US oil production rose by 538 thousand barrels per day in July to 10.984 million barrels per day, from 10.446 million barrels per day in June.
Oil production declined in March, April and May, when US crude producers were suffering the repercussions of lower prices due to the Coronavirus pandemic. Prices are still under pressure due to lower demand, but have improved compared to the record lows recorded in March.

Oil production was boosted in July thanks to gains in North Dakota, Texas, and US offshore fields in the Gulf of Mexico.

Production in Texas, the largest oil producing state in the United States, increased by 103,000 barrels per day in July compared to June.

North Dakota oil production increased by 157,000 barrels per day in the same period, and Gulf of Mexico production grew by 85,000 barrels per day.

Meanwhile, natural gas production in the US mainland states rose by 1.9 billion cubic feet per day in July to 100.8 billion cubic feet per day, the highest monthly average since April, according to the Energy Information Administration report.





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