American oil production in May actually inched down from April by 0.3 percent, according to EIA’s Monthly Crude Oil and Natural Gas Production report . U.S. crude oil production for the month of May stood at 10.442 million bpd, compared to 10.472 million bpd in April. The figure for May, based on surveys of producers, is down by nearly 300,000 bpd compared to the earlier EIA estimate for 10.749 million bpd oil production for May, with this estimate based on forecasts. The weekly estimates for May all point to more than 10.7 million bpd of crude oil production, but the more accurate—albeit lagged—data, based on survey of producers, shows that U.S. oil output had trailed projections by around 300,000 bpd. To be sure, production jumped from a year ago—by 13.3 percent from the 9.217 million bpd production in May last year. The EIA currently estimates that the June production […]