US oil output highest in 20 years

US monthly oil production has topped 7m barrels per day (bpd) for the first time in 20 years, the country’s Energy Information Administration said yesterday. The body revised up crude oil production for November 2012 from 6.893m bpd to 7.013m bpd. Crude oil production for December was even higher at 7.03m bpd. In 2012, US production averaged 6.474m bpd.