US crude output rebounded by 4.6pc in February after freezing temperatures in the prior month took production offline in the three largest producing states.
Output averaged 13.15mn b/d in February, up by 578,000 b/d from January, the Energy Information Administration (EIA) said today in its Petroleum Supply Monthly report. February's production was up by 622,000 b/d from February 2023 but remained short of the 13.3mn b/d record high set in November 2023.
North Dakota was hit particularly hard by winter storms in January, which temporarily knocked as much as 700,000 b/d of production offline. The country's third-largest producing state pumped out 1.29mn b/d during February, up by 173,000 b/d from January and 159,000 b/d higher than in February 2023.
About 86pc of North Dakota's production was 40.1°API or higher, according to the EIA.
Texas, home to more than 40pc of the country's crude production, pumped out 5.55mn b/d in February. This was up by 172,000 b/d from January and 242,000 b/d higher than February 2023.
New Mexico, which shares the prolific Permian basin with Texas, also boosted its output in February with 1.98mn b/d of production. This was up by 120,000 b/d from January and up by 183,000 b/d from February 2023.
Similar to North Dakota, about 91pc of crude produced in New Mexico was 40.1°API or higher, while in Texas about 55pc of output fell into that category. About 44pc of all crude produced in Texas fell into the relatively heavier 30.1-40°API range.
US output in the Gulf of Mexico came in at 1.8mn b/d in February, up from the 1.78mn b/d produced in the prior month but down by 28,000 b/d from February 2023. Almost all the crude produced in the Gulf of Mexico was 40°API or lower.
