BIMCO: US crude oil production takes 1.1m bpd hit due to snowstorm

The snowstorm that hit Texas in the middle of February caused a 1.1 million barrels per day (bpd) drop in US crude oil production between the second and third week of that month. In the week ending 19 February, US crude oil production averaged 9.7m bpd, its lowest level since late August 2020 when Hurricane Laura hit production. Texas is by far the largest crude oil producing state in the US, accounting for 43.0% of total US crude oil production in 2020.

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