US crude oil production hit the 12 million-barrel-per-day mark last week, while crude export volumes climbed to an all-time high of 3.6 million bpd, shattering the previous record of 3.2 million bpd in November, preliminary data from the Energy Information Administration show. The record-breaking figures come in the wake of surging US shale output, which is expected to reach 8.4 million bpd next month.
Sign up for API SmartBrief
Oil and natural gas industry news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.