US oil and gas production reached a record high in August, reaching 13.1 million barrels per day (bpd), surpassing the previous high of 13.0 million bpd set in November 2019. The industry is increasing drilling efficiency to offset lower prices.
Production in the lower 48 states, excluding federal waters in the Gulf of Mexico, also reached a record 10.8 million bpd. Compared to the previous year, production in the lower 48 states increased by 10%, but growth slowed slightly to 210,000 bpd in the last three months.
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