Texas oil production fell to 5.78 million b/d in March, but increase expected

Crude oil production in Texas fell to a four-month low of 5.78 million barrels per day in March, according to U.S. Energy Information Administration.  Production in New Mexico was steady at 2.31 million b/d.  The two states are home to the prolific Permian Basin, the nation’s leader in crude oil production.

EIA said U.S. oil production also was steady in March at 13.7 million barrels per day.

And U.S gross natural gas production rose to 135.52 billion cubic feet per day in March – up from 134.63 Bcfd in February but down from a record 136.01 Bcfd in December.  In Texas, output in March rose by 0.8 percent to a record 38.68 Bcfd.

Reuters reported, “U.S. crude production is expected to have risen since March, however, as operators ramp up output in response to a high oil price environment owing to the Iran war.”