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US CRUDE OUTPUT RISES IN MARCH, WHILE PRODUCT SUPPLIED FALLS

NEWS Desk Global



U.S. crude oil production rose in March to its highest this year, while product supplied fell. Crude output rose by 0.6% to 13.2 million barrels per day (bpd) in March, the highest since December. Crude volumes from Texas, the top producing state, edged 0.7% higher to 5.6 million bpd in March, its highest since December.

Output in New Mexico, the second largest producer, grew by 1.6% to 2 million bpd to its highest on record for a second straight month. Crude production in North Dakota, however, fell by 2.7% to 1.2 million bpd to its lowest since January. Meanwhile, product supplied, a proxy for demand, fell 0.4% to 19.9 million bpd. Finished motor gasoline supplied rose 3.3% to 8.9 million bpd. Gross natural gas production in the U.S. Lower 48 states fell by about 3.0 billion cubic feet per day (bcfd) to 114.7 bcfd in March, down from 117.6 bcfd in February.

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