The United States reached a new milestone in energy production this past April, with crude oil output climbing to an unprecedented 13.93 million barrels per day (bpd). According to the latest figures from the Energy Information Administration, this surge was largely driven by producers looking to capitalize on favorable market conditions and heightened global prices. The Permian Basin remains the heartbeat of this growth, as output in New Mexico soared to a record 2.37 million bpd, while Texas production saw a steady increase to 5.83 million bpd. North Dakota also contributed to the upward trend, marking its highest production levels since the previous November.

While oil production set new benchmarks, the natural gas sector saw a slight cooling, with gross production dipping marginally to 135.3 billion cubic feet per day. Interestingly, while Texas achieved record gas production, Pennsylvania experienced a decline. On the demand side, the overall supply of crude and petroleum products reached a multi-month high of 20.81 million bpd. Gasoline demand also signaled a robust recovery, hitting an eight-month high, even as distillate fuel oil supplies slipped to their lowest point since the end of last year.