U.S. Oil Output Drops to Lowest Level in 15 Months

U.S. Oil Output Drops to Lowest Level in 15 Months

January U.S. crude oil production was down 305,000 barrels per day, hitting 13.15 million bpd, a level it hasn’t dipped down to in over a year, according to data released by the U.S. Energy Information Administration (EIA) on Monday, also revising its December estimate downward by around 40,000 barrels, to 13.45 million bpd. The top producer, Texas, saw a decline of 105,000 bpd, sitting at 5.58 billion bpd and its largest decline in 15 months, w…

U.S. oil production fell by 305,000 barrels per day (bpd) to 13.15 million bpd in January, the lowest volume since February 2024, data from the U.S. Energy Information Administration (IEA) showed on Monday (31). That was the biggest monthly drop in U.S. oil production since January last year, according to the data. The IEA also lowered its estimate of U.S. oil production in December by about 40,000 bpd to 13.45 million bpd.

U.S. Oil Producers Face New Challenges as Top Oilfield Flags

As it ages, the Permian Basin is producing more water, gas, and less oil and may be nearing peak output. By Shariq Khan and Georgina McCartney | NEW YORK/HOUSTON (Reuters). U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages, producing more water and gas and less oil, and may be nearing peak output. The Permian Basin was the centerpiece of the shale revolution that began nearly two deca…