# US Oil Production Hits Another Record, Adding to Supply Worries

> US oil production reached a monthly record of 13.4 million barrels a day in August, with Texas output at an all-time high. The data comes ahead of OPEC's decision on returning supply to the market.

- Date: 2024-11-01 · published 2024-11-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/27770-us-oil-production-hits-another-record-adding-to-supply-worries
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Record US supply adds to the global oversupply outlook, which is bearish for crude and therefore for energy costs across feed supply chains.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-09 | [Oil price falls below $50 as U.S. supplies hit record](https://feedsoft.ai/events/8368-oil-price-falls-below-50-as-u-s-supplies-hit-record.md) | -2.9% | +2.3% |
| WTI | 2018-07-30 | [OPEC Oil Production Hits 2018 High In July \| OilPrice.com](https://feedsoft.ai/events/63954-opec-oil-production-hits-2018-high-in-july-oilprice-com.md) | -0.3% | +1.0% |
| WTI | 2017-11-29 | [Oil supply outages fall as OPEC decides on extension of production restraint agreement Report \| Wood Mackenzie](https://feedsoft.ai/events/67894-oil-supply-outages-fall-as-opec-decides-on-extension-of-production-restraint.md) | -0.6% | +2.9% |
| WTI | 2018-10-11 | [OPEC hikes oil output in September as Iran's production falls](https://feedsoft.ai/events/62459-opec-hikes-oil-output-in-september-as-iran-s-production-falls.md) | -4.8% | -15.7% |
| WTI | 2017-05-18 | [CORRECTED-UPDATE 1-Oil drops on rising US crude inventories, defies expected supply cut extension](https://feedsoft.ai/events/70932-corrected-update-1-oil-drops-on-rising-us-crude-inventories-defies-expected.md) | +4.2% | -9.3% |
| BRENT | 2018-07-30 | [OPEC Oil Production Hits 2018 High In July \| OilPrice.com](https://feedsoft.ai/events/63954-opec-oil-production-hits-2018-high-in-july-oilprice-com.md) | -2.3% | +0.7% |
| BRENT | 2025-11-28 | [Swelling supply to keep oil prices under strain in 2026 \| Reuters](https://feedsoft.ai/events/22099-swelling-supply-to-keep-oil-prices-under-strain-in-2026-reuters.md) | +0.1% | -2.4% |
| BRENT | 2017-11-29 | [Oil supply outages fall as OPEC decides on extension of production restraint agreement Report \| Wood Mackenzie](https://feedsoft.ai/events/67894-oil-supply-outages-fall-as-opec-decides-on-extension-of-production-restraint.md) | -0.7% | +4.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-10-31/us-oil-production-hits-another-record-adding-to-supply-worries

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.