U.S. Sets New Monthly Oil Production Record in August, But Prices Stay High
- U.S. oil production reached a record 13 million barrels per day in August
- Crude oil production was 404.6 million barrels, breaking the previous monthly record
- Production increased by 33 million barrels compared to last year
- Inventories remained nearly unchanged despite record production
- Biden administration applauds growth in oil output but faces criticism over high gas prices