U.S. energy firms this week added oil and natural gas rigs for the first time in 10 weeks, due to the biggest weekly increase in gas rigs since October 2016, energy services firm Baker Hughes Co said in its closely followed report on Friday.
U.S. crude oil stockpiles rose unexpectedly last week, as imports jumped, while distillate inventories gained and gasoline drew down, the Energy Information Administration said on Thursday.
The International Energy Agency (IEA) does not expect moves by the Group of Seven nations to counter the evasion of price caps on Russian energy will change the supply situation for crude oil and oil products, the IEA's Executive Director Fatih Birol said.
New Mexico's crude oil production grew more last year than any other U.S. state, including top producer Texas, and accounted for half the nation's overall gain, signaling its importance in expanding U.S. oil output.
North Dakota's daily oil production rose 9% in February from the prior month to its highest since November 2021, preliminary state data showed on Monday.