Domestic oil production hits 2021 high for second straight week.

Byline: S. Kamal Hayder Kazmi

U.S. oil output climbed to a new 2021 peak for a second consecutive week as Lower 48 producers continued to gradually ramp up to meet increased demand, the U.S. Energy Information Administration (EIA) said Wednesday.

Production for the week ended Dec. 3 rose to 11.7 million b/d, up 100,000 b/d week/week, EIA said in its latest Weekly Petroleum Status Report. Output climbed by the same amount a week earlier.

Production was 600,000 b/d ahead of where it was during the first week of December last year, when the industry was in early recovery mode from pandemic-imposed disruption.

Rystad Energy analyst Louise Dickson said...