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US Crude Output Drops to 6-Month Low in December
Monthly Figures Represent Decrease of About 182,000 Barrels a Day Compared With EIA's Preliminary Weekly Estimates for Month
U.S. crude production fell to near 13.7 million barrels a day in December, the lowest in six months, according to a monthly report from the Energy Information Administration.
The monthly figures represent a decrease of about 182,000 barrels a day compared to the agency’s preliminary weekly estimates for December. The data spans a period when widespread expectations of a global supply glut were weighing on prices, partly as OPEC+ moved to restore barrels the group had withheld for years.
- Total liquids production eased to about 21.3 million barrels a day in December, down 1.8% from the previous month
- Gasoline, jet fuel and diesel demand were all largely in line with the EIA’s weekly estimates
- December diesel demand rose marginally higher than last year heading into January, which saw elevated demand and tight supply for the fuel due to cold temperatures and snow on the East Coast.
