Total U.S. crude oil production reached 9.6 million barrels per day, with output from the Lower 48 states showing some recovery, federal data show. The total U.S. crude oil production for the week ending June 5 was about a quarter of a percent higher than the previous week. The U.S. Energy Information Administration reports 9.1 million bpd came from the Lower 48 and 509,000 bpd came from Alaska, which in the EIA’s last report was the lone standout in production gains. Though Alaska is the No. 4 oil producer in the nation, its production is in decline as many state reserve areas reach maturation. The low price of crude oil has left energy companies with less cash for exploration and production. The […]