Commodities
US Crude Oil Production Hit Six-Month Low in December, EIA Says
A pumpjack extracts oil near Crane, Texas.
Photographer: Matthew Busch/BloombergUS crude production fell to near 13.7 million barrels a day in December, the lowest in six months, according to a monthly report from the US government.
The monthly figures represent a decrease of about 182,000 barrels a day compared to the agency’s preliminary weekly estimates for December. The data spans a period when widespread expectations of a global supply glut were weighing on prices, partly as OPEC+ moved to restore barrels the group had withheld for years.