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US oil production in November averages a record 11.9 million b/d: EIA

Washington — US oil production averaged a record 11.9 million b/d in November, up 345,000 b/d from October and up nearly 1.8 million b/d compared with November 2017's average, the US Energy Information Administration said Thursday.

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The EIA also Thursday revised its October production estimate to 11.555 million b/d, an increase of 18,000 b/d compared with its previous estimate last month.

US oil production in November surpassed EIA's expectations from earlier this month, which put output roughly 140,000 b/d lower.

EIA had forecast US oil production would climb above 12 million b/d in March, but that threshold may have been crossed already.

US oil output growth in November was largely driven by increased production in the Permian Basin and the Gulf of Mexico, the data show.

Production in Texas averaged 4.835 million b/d in November, up 115,000 b/d from October, and output in New Mexico averaged 803,000 b/d, up 32,000 b/d compared with October. Production in Texas and New Mexico jumped 932,000 b/d and 281,000 b/d, respectively, compared with November 2017, EIA said.

Gulf of Mexico production averaged 1.922 million b/d in November, up 188,000 b/d from October and up 233,000 b/d from November 2017.

North Dakota, the US' second-largest oil producing state, saw its output dip to 1.364 million b/d in November, down about 11,000 b/d from October, but still up 167,000 b/d from November 2017.

Oklahoma, the fourth-largest oil producing state, averaged 580,000 b/d in November, up about 40,000 b/d from October and up 79,000 b/d from November 2017.

Colorado, which recently became the fifth-largest producing state, averaged 511,000 b/d in November, up 15,000 b/d from October and up 90,000 b/d year on year.

-- Brian Scheid, brian.scheid@spglobal.com

-- Edited by Keiron Greenhalgh, newsdesk@spglobal.com