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Posted August 4, 2020 Today in Energy

U.S. crude oil production in May has a record monthly decrease ›

Production of crude oil decreased in the United States in May 2020 by 1.99 million barrels per day (b/d), the largest monthly decrease since at least January 1980, according to the U.S. Energy Information Administration’s (EIA) Monthly Crude Oil and Natural Gas Production Report. This decrease surpassed the previous record drop in September 2008 when Hurricanes Gustav and Ike caused production to fall by 1.03 million b/d. May marks the sixth consecutive monthly decrease in crude oil production and is the third month since the March 2020 declaration of a national emergency concerning the coronavirus disease (COVID-19) outbreak. More

U.S. monthly crude oil production

Source: EIA, Monthly Crude Oil and Natural Gas Production Report

Data Highlights

WTI crude oil futures price

8/3/2020: $41.01/barrel

down$0.59 from week earlier
down$14.65 from year earlier

Natural gas futures price

8/3/2020: $2.101/MMBtu

up$0.367 from week earlier
down$0.020 from year earlier

Retail gasoline price

8/3/2020: $2.176/gal

up$0.001 from week earlier
down$0.512 from year earlier

Retail diesel price

8/3/2020: $2.424/gal

down$0.003 from week earlier
down$0.608 from year earlier

Weekly coal production

7/25/2020: 10.145 million tons

up0.275 million tons from week earlier
down3.980 million tons from year earlier