The USA through May 2018. The upward surge has stalled for the last two months. U.S. production was down 30,000 bpd in May. It is a little astonishing how close the Texas chart resembles the USA chart. Texas is, by far, the USA’s largest producer. As Texas goes, so goes the USA. Texas production was up 20,000 bpd in May. (Click to enlarge) North Dakota production has increased significantly in the last two months. They were up 67,000 bpd in April and up another 25,000 bpd in May. (Gulf of Mexico production was down 99,000 bpd in April and down another 75,000 bpd in May. (Click to enlarge) Alaska was down only 1,000 bpd in May but that was 12,000 bpd lower than last May. They are now entering the maintenance season. Expect huge drops in June and July. (Click […]