U.S. crude oil field production remains level last week

Source: Xinhua| 2019-01-10 07:48:07|Editor: ZD
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HOUSTON, Jan. 9 (Xinhua) -- U.S. crude oil field production remained unchanged during the week ending Jan. 4, the U.S. Energy Information Administration (EIA) said on Wednesday.

According to the EIA report, the weekly U.S. field production of crude oil averaged 11.7 million barrels per day (b/d), which stayed the same as the previous week.

Looking back on the beginning of 2018, U.S. crude oil field production averaged 9.5 million b/d, approximately 2.2 million b/d less than the level at the end of 2018. U.S. crude oil field production averaged 8.9 million b/d this time in 2017.

In a report in December 2018, EIA said that U.S. crude oil production would average 12.1 million b/d in 2019.

The January supply cuts by the Organization of the Petroleum Exporting Countries and allies including Russia is unlikely to affect U.S. domestic oil production, according to a market insider.

U.S. oil prices rose on Wednesday. The West Texas Intermediate for February delivery surged 2.58 U.S. dollars to settle at 52.36 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery rose 2.72 dollars to close at 61.44 dollars a barrel on the London ICE Futures Exchange.