US crude supply remains resilient despite near-term headwinds
US crude and condensate production rose modestly to 13.79 Mbd in June, as Texas and New Mexico slowdowns and E&P capital discipline were offset by rig efficiency gains and a rebound in Alaskan output, led by ramp-up at the Pikka project and recovery at North Slope fields like Prudhoe Bay. Market & trading calls: • ...
US crude and condensate production totaled 13.79 million barrels per day (Mbd) in June, reflecting a modest uptick from the previous month. This increase was driven by gains in Alaska, as well as partial recoveries in Texas and New Mexico, despite localized bottlenecks and capital discipline dominating the industry. In June, Texas output dropped 75 kbd to 5.73 Mbd, while New Mexico's production fell 32 kbd to 2.37 Mbd.
Meanwhile, Alaskan production surged, led by the Pikka project's ramp-up and a resurgence at North Slope fields such as Prudhoe Bay. Active US oil rigs rose to 447 by late August, up 30-40 rigs from pre-war levels, contributing to improved rig efficiency and enhanced recovery per rig. Despite these gains, the outlook shows signs of deceleration, particularly in Texas, which may be offset by rebounding Alaskan output and ongoing improvements in the Waha region's infrastructure.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
