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Energy Group: Highest-Ever U.S. Crude Oil and Natural Gas Liquids Production

Energy Group: Highest-Ever U.S. Crude Oil and Natural Gas Liquids Production

The American Petroleum Institute (API) released its monthly statistical report on Thursday, revealing the highest-ever production of U.S. crude oil and natural gas liquids in June.

During that month, production of crude oil hit 10.7 million barrels per day (mb/d), and production of natural gas liquids hit 4.2 million barrels per day, according to API.

“Record production of U.S. crude oil and natural gas liquids last month highlighted the strength of our nation’s energy renaissance,” Dean Foreman, API chief economist, said in the announcement of the report.

“With continued increases in drilling activity, the U.S. is poised for further production increases in natural gas and oil,” Foreman said.

“Unfortunately, increasing tariffs on steel and other components that are vital to our industry’s infrastructure and operations have emerged as a key challenge,” Foreman said, adding that the oil and gas trade association needs steel and other products for developing energy production infrastructure.

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