US Oil Production Nears Record as Texas Shale Output Soars
- Crude output climbs to 12.991 million barrels a day in July
- Increased production comes even as oil-rig count plummets
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US crude production reached the second-highest level on record in July as output from Texas’s Permian Basin soared to an all-time high.
The nation’s output rose to 12.991 million barrels a day, the highest since a peak of 13 million barrels in November 2019, according to data from the Energy Information Administration. Most of the gain came from Texas, where drillers produced a record 5.63 million barrels a day.