US crude oil production decreases last week: EIA

HOUSTON - US crude oil production decreased slightly during the week ending Jan 31, US Energy Information Administration (EIA) said Wednesday.

According to the EIA, US crude oil production averaged 12.9 million barrels per day (b/d) last week, down by 100,000 b/d from the previous week and up by about 1.0 million b/d year-on-year.

This was the first week that the US crude oil production decreased after remaining unchanged for two consecutive weeks.

In the EIA's latest Short-Term Energy Outlook released last month, EIA forecast that US crude oil production will average 13.3 and 13.7 million barrels per day in 2020 and 2021, respectively.

EIA also forecast that the United States will be a net exporter of total crude oil and petroleum products by 0.8 million barrels per day in 2020 and by 1.4 million barrel per day in 2021.