News wire — U.S. crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration (EIA) said in its Petroleum Supply Monthly (PSM) report on Friday.
U.S. crude output rose to 13.488 million barrels per day (bpd) in March, up from 13.159 million bpd in February and the prior all-time high of million bpd in October 2024.
U.S. product supplied of crude oil and petroleum products, a measure of demand, fell to a 12-month low of 19.950 million bpd in March, down from 20.225 million bpd in February.
That was the lowest product supplied since March 2024 and compares with a monthly record high of 21.666 million bpd in August 2005.
Reporting by Scott DiSavino and Shrariq Khan – Reuters
