NEW YORK (Reuters) – U.S. crude oil production rose 167,000 barrels per day in October to 9.64 million bpd, data from the U.S. Energy Information Administration said on Friday, the highest monthly level in over 46 years. September’s oil production figures were revised down by 11,000 bpd to 9.47 million bpd, the EIA said in its monthly production report. If October’s production number is not revised next month, it would be the highest monthly figure since May 1971. In North Dakota, oil output rose by 83,000 bpd in October, while it jumped 206,000 bpd in Texas. Offshore in the U.S. Gulf of Mexico, production declined by 200,000 bpd. Meanwhile, crude exports rose to 1.73 million bpd in October compared with 1.47 million bpd in September. Total refined oil product exports rose to 3.6 million bpd in October, with gasoline exports rising to 732,000 bpd and distillate fuel exports rising to 1.5 million bpd. Oil demand for the month rose compared with a year ago, edging up 0.8 percent or 156,000 bpd to 19.8 million bpd. Of that, gasoline demand rose 2.8 percent or 254,000 bpd to 9.3 million bpd compared with last year. Distillate demand slipped 0.5 percent or 20,000
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Source: CTRM Center