NEW YORK — U.S. oil production rose 260,000 barrels per day month-over-month to a record 13.46 million bpd in October as demand surged to the highest levels since the pandemic, data from the U.S. Energy Information Administration showed on Tuesday. U.S. oil output has grown rapidly this year as drilling operations became more efficient, even as concerns of oversupply have weighed heavily on prices for the commodity amid weaker-than-expected demand growth, especially in China, the top oil-importing nation. Year-over-year, U.S. oil production rose 2.3% in October, while West Texas Intermediate crude futures prices CLc1 averaged 16% lower during the month
US oil production rose to record high in October, data show
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