Washington, D.C. – U.S. crude oil production averaged 5.36 million barrels per day in October, continuing at high levels not seen since 2005, according to a report by the American Petroleum Institute (API).
Crude production from the lower 48 states averaged 4.67 million barrels per day (bpd), up from both October 2008 and prior months. Alaskan output, at 696,000 bpd, slipped from October 2008 by 2.8 per cent, but rebounded from this summer’s lows of less than 600,000 bpd.
“The October production figures continue to detail the industry’s success story in the Gulf of Mexico, particularly the deep waters, as well as the way new technologies have helped bring on new production both offshore and onshore,” said API statistics manager Ron Planting.
On the demand side, gasoline deliveries for October 2009 showed their first decline since May, dropping 0.5 per cent from last October’s delivery surge that followed hurricane-related supply interruptions in September 2008. However, had October 2008 deliveries followed a pattern more in line with historical patterns, API estimates that October 2009 would have shown their fifth year-to-year increase in a row, although perhaps by only about one-half of one per cent.