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Energy

U.S. crude oil output fell in Feb to lowest since 2017

2 minute read

NEW YORK, April 30 (Reuters) - Crude oil output in the U.S. fell dropped by over a million barrels per day in February, falling to the lowest levels since October, 2017, according to a monthly government report on Friday.

U.S. oil production dropped 1.197 millionbpd in February to 9.862 million bpd, according to a monthly report from the U.S. Energy Information Administration.

Production fell in top producing states North Dakota and Texas, as well as in the offshore Gulf of Mexico, the report said.

February's data is the first time oil production has dropped below 10 million bpd since January 2018, according to the agency. The output drop came as a freeze in Texas shut in some production, but declines were also seen in other major oil-producing states.

Meanwhile, monthly gross natural gas production in the U.S. Lower 48 states fell by 7.8 billion cubic feet per day (bcfd), the biggest monthly decline on record, to 94.8 bcfd in February, according to data in EIA's 914 production report going back to 2005.

That gas output drop in February was due to severe weather that froze gas wells and pipes in Texas and other states in the central United States. It followed production increases during the prior three months.

Gross gas output peaked at 107.1 bcfd in December 2019.

In top gas producing states, output fell 15.4% in Texas to 23.5 bcfd in February, the lowest in a month since February 2018, but held steady near a record high of 21.2 bcfd in Pennsylvania.

Other states that suffered big declines due to the February freeze included Oklahoma (down 16.7%), Arkansas (down 15.6%), Kansas (down 11.2%) and Louisiana (down 10.0%).

Reporting By Jessica Resnick-Ault

Our Standards: The Thomson Reuters Trust Principles.

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