The EIA also said U.S. oil production C-OUT-T-EIA was rising, reaching 11 million barrels per day last week. Rising US oil production means that the US, Russia and Saudi Arabia all pump around 11 million barrels per day (bpd), collectively providing a third of global oil demand, according to EIA data. The bigger-than-expected US figure helped stabilise the price of oil after the US-China trade war put pressure on demand and US stockpiles fell by more than expected.
Rising US oil production means that the US, Russia and Saudi Arabia all pump around 11 million barrels per day (bpd), collectively providing a third of global oil demand, according to EIA data. The bigger-than-expected US figure helped stabilise the price of oil after the US-China trade war put pressure on demand and US stockpiles fell by more than expected.