U.S. oil output soars to record 12.4 mln bpd in August

U.S. crude production soared nearly 600,000 barrels per day in August to record of 12.4 million, buoyed by a 30% increase in Gulf of Mexico output, according to government data released on Thursday.The U.S. has become the world’s largest oil producer with output surging to records above 12 million bpd this year as technological advances have increased production from shale formations across Texas, North Dakota and New Mexico. All three states saw output rise in August.

Additionally, oil production in the Gulf of Mexico rose 469,000 bpd in the month to a record for the region at above 2 million bpd, according to the U.S. Energy Information Administration’s monthly drilling report.

Output from Texas rose 98,000 bpd and North Dakota increased by 28,000 bpd, the EIA said.

Meanwhile, monthly gross natural gas production in the lower 48 U.S. states rose to an all-time high of 104.2 billion cubic feet per day (bcfd) in August from the prior record of 101.6 bcfd in July, according to the EIA’s 914 report.

The 2.6-bcfd rise in Lower 48 gas production was the third biggest on record behind increases of 5.0 bcfd in October 2008 and 2.8 bcfd in November 2005.

In Texas, the biggest gas producing state, output increased 1.9% to a record high of 28.5 bcfd in August from the prior monthly all-time high of 28.0 bcfd in July.

In Pennsylvania, the second-biggest gas-producing state, output rose 0.6% to a record 19.2 bcfd in August from the prior all-time high of 19.1 bcfd in July.