U.S. crude oil production declines in 2015 after 7 years of growth
After seven years of growth, U.S. crude oil production has been decreasing since April 2015, according to just released data from the U.S. Energy Information Administration (EIA).
Crude oil was produced at a rate of 9.42 million barrels daily last year, the highest level since 1972.
Although annual production rose in 2015, monthly U.S. crude oil production has fallen since last April because of lower oil prices which led to slower development activity. Production fell to 8.74 million barrels per day in August 2016, the latest month for which survey data is available.
The largest production gains were seen in Texas, North Dakota and the Gulf of Mexico, accounting for 77 percent of the total U.S. increase.
In 2015, Texas experienced the biggest increase in oil production of any state with growth of 289,000 barrels per day. Texas produced 3.46 million barrels a day last year, which EIA said was the highest level since 1981 when it began tracking state-level data.
Meanwhile, in 2015 the Gulf of Mexico region saw its highest oil production since 2010, at 1.52 million barrels per day, EIA said.
In contrast, other areas of the United States are experiencing decreases in oil production. Crude oil production has generally dropped in California since 1985. In Alaska, crude oil production has declined for 13 years in a row.
