US crude production rose by nearly 250,000 b/d in March to a record high on gains from each of the largest producing states.
Output nationwide averaged 13.49mn b/d in March, up from 13.24mn b/d in February, the Energy Information Administration (EIA) said Friday in its Petroleum Supply Monthly report. Production also rose from 13.17mn b/d in March 2024.
Texas, home to 42pc of the country's crude production, pumped out 5.71mn b/d in March, up from 5.66mn b/d in the month prior and 5.58mn b/d a year earlier.
Operators in New Mexico, which shares the prolific Permian basin with Texas, produced a record 2.26mn b/d in March, up from 2.16mn b/d in February and 2.01mn b/d in March 2024.
North Dakota halted a three-month skid, producing 1.16mn b/d in March, up from 1.13mn b/d in February. But the state's production fell from 1.22mn b/d in March 2024.
Offshore output in the Gulf of Mexico averaged 1.79mn b/d in March, up from 1.76mn b/d in February but down from 1.82mn b/d a year earlier.
The EIA expects crude production nationwide to average 13.42mn b/d in 2025 and 13.49mn b/d in 2026, according to its latest Short-Term Energy Outlook (STEO). Those forecasts are lower by 90,000 b/d and 70,000 b/d, respectively, compared to EIA's outlook in April, as global trade tensions are expected to weigh on demand.
