Output growing at less than half the year-ago pace ‘Peak growth’ may be near Output growth in Texas, North Dakota at lowest rate in two years Year-on-year growth in US oil output, which was averaging over 2.1 million b/d a year ago, has fallen by more than half as domestic production continues to break records, but at a significantly slower pace than 2018, new government data shows. US oil output averaged a record 12.47 million b/d in September, up 965,000 b/d from September 2018, according to the latest US Energy Information Administration data. In September 2018, US oil production averaged nearly 11.5 million b/d, which was up about 1.99 million b/d from September 2017, according to EIA. “Without a substantial oil price increase, we have likely hit peak growth even as peak production remains in the future,” said Jamie Webster, senior director at Boston Consulting Group’s Center […]