U.S. crude oil production rose to a fresh monthly high of 13.64 million barrels per day in July, up 109,000 bpd from the previous record in June, data from the Energy Information Administration showed on Tuesday.
Oil output from top-producing state Texas rose to 5.8 million bpd in July, the highest since October 2024, while second-largest producer New Mexico hit a record 2.28 million bpd, the EIA data showed.
Gross natural gas production in the U.S. Lower 48 states also hit a record high of 121.62 billion cubic feet per day in July, surpassing the previous record of 120.57 billion cubic feet in June, the data showed.
In top gas-producing states, monthly output in July rose by 1.4% to an all-time high 37.35 bcfd in Texas, while Pennsylvania posted a 2.2% decline to 21.04 bcfd, the EIA said.
Meanwhile, oil demand weakened in July from a multi-month high in June. Product supplied – EIA’s proxy for demand – for crude oil and petroleum products declined 23,000 bpd to 20.98 million bpd in July from June, the data showed.
Demand for finished motor gasoline slipped 112,000 bpd month-over-month to 9.15 million bpd in July, while distillate fuel demand was down 161,000 bpd to 3.8 million bpd, EIA said.
(Reporting by Shariq Khan in New York and Georgina McCartney in Houston Editing by Matthew Lewis)