US crude oil output rose in July, while petroleum demand declined, EIA says
In July, US crude oil production climbed to 13.95 million barrels per day, up from June’s figures. Despite the production surge, the demand for crude oil and petroleum products dropped to 20.61 million barrels per day. Meanwhile, gross natural gas production reached a remarkable 137.0 billion cubic feet per day, with Texas's output increasing to 40.1...
Key Takeaways
- In July, US crude oil production climbed to 13.95 million barrels per day, up from June’s figures.
- Despite the production surge, the demand for crude oil and petroleum products dropped to 20.61 million barrels per day.
- Meanwhile, gross natural gas production reached a remarkable 137.0 billion cubic feet per day, with Texas's output increasing to 40.1 billion cubic feet per day, contrasting slightly with a decline in Pennsylvania.
In July, US crude oil production climbed to 13.95 million barrels per day, up from June’s figures. Despite the production surge, the demand for crude oil and petroleum products dropped to 20.61 million barrels per day. Meanwhile, gross natural gas production reached a remarkable 137.0 billion cubic feet per day, with Texas's output increasing to 40.1 billion cubic feet per day, contrasting slightly with a decline in Pennsylvania.
Original Publisher Attribution
This summary was curated from Economic Times.