finance
U.S. Crude Oil Production Reached Record 13.934 Million Barrels Per Day in April
Monthly data from the U.S. Energy Information Administration showed output rose 216,000 barrels per day above March. The increase followed a temporary price spike tied to the Iran conflict and Hormuz closure.
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Monthly data released Tuesday by the U.S. Energy Information Administration showed U.S. crude oil production reached 13.934 million barrels per day in April. The figure exceeded March output of 13.718 million barrels per day by 216,000 barrels per day.
Mexico set a new state record at 2.37 million barrels per day. Texas output rose to 5.83 million barrels per day, its highest level since November. North Dakota production reached 1.13 million barrels per day, also the strongest reading since November. The Permian Basin accounted for the largest share of the national increase.
Oil prices had climbed toward $120 per barrel earlier in the period after the Iran conflict closed the Strait of Hormuz. Prices later declined as exports from the Persian Gulf resumed. April production figures reflect the period when prices were elevated.
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