US crude oil output touches 11 million barrel a day for first time ever
Updated : July 19, 2018 06:22 AM IST
The gains represent a rapid increase in output, as the data, if confirmed by monthly figures, puts the United States as the second largest producer of crude oil, just behind Russia.
The United States has added nearly 1 million bpd in production since November, thanks to rapid increases in shale drilling.
US crude was down 55 cents to $67.51 a barrel, while Brent dropped 39 cents to $71.77 a barrel.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more