U.S. crude oil production falls 9% after record 2015 level

U.S. crude oil production has tumbled 9% to 8.74 million barrels per day, from its high-water mark of 9.63 million barrels per day in April 2015, according to U.S. Energy Information Administration.

In 2015, U.S. crude oil production jumped to 9.42 million barrels per day, the highest level since 1972, but has since fallen as a result of lower oil prices.

Production in Texas, the Gulf of Mexico and North Dakota accounted for 77% of the total U.S. increase last year.

“Lower oil prices led to slower development activity, and production fell to 8.74 million barrels per day in August 2016, the latest month for with survey data is available,” according to the EIA.

In Texas last year, daily oil production increased by 289,000 barrels, to 3.46 million barrels per a day and was the highest production level since at least 1981. Texas produces the most crude oil in the United States.

Offshore, the Gulf of Mexico increased daily production by 118,000 barrels, to 1.52 million barrels a day, the area’s most production since 2010.

North Dakota increased its daily production by 96,000 barrels, to 1.18 million barrels a day, and this was a record for the state.

Production in Colorado, New Mexico and Oklahoma also increased in 2015. But it fell in Alaska, California, Kansas and Louisiana.

As of midday Monday (Nov. 7), a barrel of WTI Crude Oil increased 27 cents, or 0.61%, to $44.34, and a barrel of Brent Crude rose 6 cents, or 0.13%, to $45.64, according to Bloomberg.