US oil production hit record high in October: EIA

[HOUSTON] US oil production hit a record high in October, according to the Energy Information Administration on Wednesday.

Domestic oil output rose by 31,000 barrels per day to 13.87 million bpd.

Oil output in New Mexico, the second-largest oil-producing state, also climbed by 31,000 bpd to hit a record 2.38 million bpd, while output from the federal offshore Gulf region rose by 46,000 bpd to 2 million bpd in October, the highest since August 2019.

Texas oil production fell 45,000 bpd to 5.8 million bpd.

Product supplied, a proxy for demand for crude and petroleum products, rose by 158,000 bpd to 9 million bpd in October.

Demand for finished motor petrol rose by 36,000 bpd to 9 million bpd in October, while distillate fuel oil supplied rose by 249,000 bpd to 4.1 million bpd, its highest in three years. REUTERS