KEY TAKEAWAYS:

U.S. oil output hit a record 13.84M barrels per day in September.

New Mexico, Alaska and Oklahoma drove monthly production gains.

Offshore Gulf production reached its highest level since 2020.

Technological advances and deepwater projects fuel continued growth.

U.S. oil production rose by 44,000 barrels per day to a record 13.84 million barrels per day in September, driven by a sharp increase in New Mexico and Alaska.

The 0.3% rise represented the fourth consecutive month of record output, Energy Information Administration data shows.

Production also showed growth in Oklahoma but remained flat in Texas and other key producing states, as oil prices remain low. The price Wednesday of a barrel of West Texas Intermediate crude oil was at $59.46, down 12.3% from $67.

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