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EIA: US Crude, NGL Production Broke Records in November

December 31, 2018 [The Oil & Gas Journal] - US crude oil and natural gas liquids production broke records in November and the first 11 months of this year, the US Energy Information Administration reported. November’s total US crude production averaged nearly 11.7 million b/d, 15.7% higher than a year earlier, as NGL production for the month climbed 11.2% to an average of almost 4.6 million b/d during the same period, EIA said.

Reported total US crude production through Nov. 30 averaged more than 10.8 million b/d in 2018, 16.4% more than the monthly average of almost 9.3 million b/d for the comparable 2017 period, according to figures from EIA’s December 2018 Monthly Energy Review. Average monthly NGL production through November of more than 4.3 million b/d was almost 14.8% more than average monthly NGL production in 2017’s first 11 months, it said.

EIA’s figures confirmed findings in the November Monthly Statistical Report, which the American Petroleum Institute released a day earlier.

US crude production averaged a record 11.6 million b/d as NGL production also broke its record at an average 4.8 million b/d, it said. Crude oil exports also hit a record high at 2.4 million b/d during the month and US petroleum net imports fell to their lowest monthly level in more than 50 years at 2.2 million b/d, it added.

“Robust American energy production has solidified the United States’ position as the world’s No. 1 oil producer; this has enhanced our energy security, economy, and benefitted consumers at home and aboard,” API Chief Economist Dean Foreman said at the time. “Importantly, record NGL production of 4.8 million b/d in November also made the US gas industry the world’s No. 4 oil producer, narrowly edging out Iraq.

“To continue this success in 2019 and beyond, the industry needs policies to foster access to resources, investment in domestic and export infrastructure, a level playing field through cogent energy policies, and trustful international trade relations,” he said.


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Added to TankTerminals.com on: Monday, December 31, 2018 by The Oil & Gas Journal.
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