U.S. crude, natural gas output at multi-year records in Oct: EIA

December 29, 2017

U.S. crude oil production in October rose to the highest in more than 46 years, while natural gas production leaped to a new record, U.S. Energy Information Administration data showed on Friday.

The production increases in October compared to a year ago come on the heels of higher energy prices, with U.S. crude futures recently touching $60 a barrel for the first time since mid 2015.

Natural gas futures hit near four-week highs on Friday and were poised for their best weekly gain since July last year on higher demand expectations.

Production was expected to continue rising through 2017 and into 2018, analysts and traders said, driven by rising exports and growing oil demand.

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