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US oil output fell in October for first time since April -EIA

December 29, 202311:39 AM Reuters0 Comments

Drilling rig in North Dakota U.S. crude oil output fell slightly in October to 13.248 million barrels per day, the first monthly decline since April, the U.S. Energy Information Administration (EIA) said on Friday.

Analysts have been expecting a slowdown in U.S. oil output after it set monthly records in August and September. The EIA on Tuesday revised its estimates of U.S. oil output in September to 13.252 million barrels per day (bpd) from 13.236 million bpd reported last month.

In North Dakota, the third largest oil-producing U.S. state, crude output fell 2.4% to 1.27 million bpd in October, the first monthly decline since March.

The decline was partially offset by top-producing state Texas, which saw output rise 0.4% to a record high of 5.61 million bpd in October, the EIA data showed. Output in neighboring New Mexico rose 0.8% in October to 1.84 million bpd.

(Reporting by Shariq Khan and Liz Hampton; Editing by Leslie Adler)

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