US Oil and Gas Production Hit Fresh Record High in August, EIA Data Shows

(Reuters) -U.S. oil and gas production rose to record highs in August, data from the Energy Information Administration showed on Friday, shrugging off concerns that the market is heading towards a surplus.

U.S. crude oil output rose 86,000 barrels per day to a record 13.8 million bpd, while gross natural gas output from Lower-48 states rose 709 million cubic feet per day to 122.85 billion cubic feet per day.

Reporting by Shariq Khan in New York

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