U.S. crude oil output fell in Feb to lowest since 2017

REUTERS - Crude oil output in the U.S. fell by more than 1 MMbpd in February, falling to the lowest levels since October 2017, according to a monthly government report.

U.S. oil production dropped 1.197 MMbpd in February to 9.862 MMbpd, according to a monthly report from the U.S. Energy Information Administration.

Production fell in top producing states North Dakota and Texas, as well as in the offshore Gulf of Mexico, the report said.

February's data is the first time oil production has dropped below 10 MMbpd since January 2018, according to the agency. The output drop came as a freeze in Texas shut in some production, but declines were also seen in other major oil-producing states.

Meanwhile, monthly gross natural gas production in the U.S. Lower 48 states fell by 7.8 billion cubic feet per day (Bcfd), the biggest monthly decline on record, to 94.8 Bcfd in February, according to data in EIA's 914 production report going back to 2005.

That gas output drop in February was due to severe weather that froze gas wells and pipes in Texas and other states in the central United States. It followed production increases during the prior three months.

Gross gas output peaked at 107.1 Bcfd in December 2019.

In top gas producing states, output fell 15.4% in Texas to 23.5 Bcfd in February, the lowest in a month since February 2018, but held steady near a record high of 21.2 Bcfd in Pennsylvania.

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