July 31, 2019 / 4:57 PM / 25 days ago

U.S. oil output slips from record high to 12.1 million bpd in May

NEW YORK (Reuters) - U.S. crude oil output declined 26,000 barrels per day (bpd) in May to 12.11 million bpd, the U.S. Energy Information Administration said in a monthly report released on Wednesday.

The agency also revised its estimate for April oil production down by 28,000 bpd to a monthly record of 12.13 million bpd.

Output in Texas, the largest producing state, rose by 16,000 bpd to 4.97 million bpd, a fresh record high, while in New Mexico, it rose 33,000 bpd to 900,000 bpd, also a new record, according to the data.

Production in North Dakota rose 3,000 bpd to 1.36 million bpd, the highest since December.

Oil production in the Permian basin, spanning Texas and New Mexico, and North Dakota has surged over the past few years, helping make the United States the biggest oil producer in the world.

Most of the overall production decline in the United States came from offshore Gulf of Mexico, where output slid by 78,000 bpd.

Crude exports jumped to 2.9 million bpd in May, near the monthly record 3 million bpd hit in February.

Total oil demand in May fell 98,000 bpd to 20.26 million bpd and distillate demand slumped 232,000 bpd to 4.04 million bpd.

Gasoline demand declined 1.6%, or 149,000 bpd, to 9.4 million bpd, the data showed.

Meanwhile, monthly gross natural gas production in the lower 48 U.S. states fell to 100.0 billion cubic feet per day (bcfd) in May from a record high of 100.5 bcfd in April, according to the EIA’s 914 report.

That was the first decline from the Lower 48 since January.

In Texas, the biggest gas producing state, output increased 0.7% to a record high of 27.3 bcfd in May from the prior monthly all-time high of 27.1 bcfd in April.

In Pennsylvania, the second-biggest gas-producing state, output slipped 0.8% to 18.7 bcfd from a record high of 18.9 bcfd in April.

Reporting by Devika Krishna Kumar and Scott DiSavino in New York; Editing by Marguerita Choy

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