US oil production fell for the second month in January
US, WASHINGTON (ORDO NEWS) — The US Energy Information Administration said in a monthly report on Tuesday that US crude oil production fell to 12.74 million bpd in January from 12.80 million bpd in December.
This is the first time that crude production has declined for two consecutive months since July 2019 and comes after recording a record high monthly level of 12.87 million bpd in November, ahead of the collapse in global prices and demand for fuel due to a price war and government steps to contain the spread of the Coronavirus.
In Texas, the largest oil producing state, production increased 0.4 percent to a record high monthly high of 5.39 million bpd in January, from a record high of 5.37 million bpd in December.
Meanwhile, natural gas production in the 48 mainland states declined to 105.5 billion cubic feet per day in January, from 106.4 billion cubic feet per day in December, according to the Energy Information Administration.
This is the biggest monthly decline since January 2018 and the first time that gas production has fallen for two months in a row since January 2017. The highest monthly level ever was 107 billion cubic feet per day recorded in November.
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