Crude oil production in the U.S. reached a new record high of 12.8 million barrels per day (bpd) for the week ending Nov. 8, according to data released by the Energy Information Administration (EIA) on Thursday.
The world's biggest crude oil producer saw its output increase by 8,000 bpd in the state of Alaska and 200,000 bpd in other states excluding Hawaii, bringing total crude output in the country from approximately 12.6 mbpd to 12.8 mbpd.
The last time the U.S.' crude oil production reached a record high level was seen for the week ending Oct. 4 when output climbed to 12.6 million bpd, according to the EIA data.
Commercial crude oil inventories in the U.S. rose by 2.2 million barrels, or 0.5%, to 449 million barrels for the week ending Nov. 4, higher than the market expectation of an increase of 1.6 million barrels. Crude inventories increased by 7.9 million barrels during the previous week.
Strategic petroleum reserves, which are not included in the commercial crude stocks, decreased by 1.4 million barrels, or 0.2%, to 639.5 million barrels last week, according to the data.
Gasoline inventories, on the other hand, rose by 1.9 million barrels, or 0.9%, to 219.1 million barrels during that period. The market expectation was a decline of 1.2 million barrels. Gasoline inventories saw a decrease of 2.8 million barrels the week before.
By Ovunc Kutlu