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EIA lowers US oil output estimates amid prolonged oil-price slump
Oil & Gas Journal: US crude oil production in June totaled 9.3 million b/d, a decline of 100,000 b/d from the revised May figure, according to the US Energy Information Administration’s Petroleum Supply Monthly (PSM) released Aug. 31. The US hit a peak of 9.61 million b/d in April.
EIA revised downward production estimates released in the PSM for January through May by 40,000 b/d to 130,000 b/d. The largest revisions in volume include decreases of oil production in Texas, ranging 100,000-150,000 b/d; and increases in the federal Gulf of Mexico, ranging 10,000-50,000 b/d.
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