U.S. Crude Production Decreased in January

Data from the U.S. Energy Information Administration revealed today, Friday, that "U.S. crude oil production decreased in January to 12.533 million barrels per day, a decline of six percent compared to December, following cold weather that hampered some production." The data also showed that crude oil production in Texas fell in January to 5.361 million barrels per day, down about five percent from the previous month, while production in North Dakota decreased by approximately 13 percent to 1.122 million barrels per day.