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US oil production fell to 11-month low in January, data shows

U.S. crude oil production fell by 305,000 barrels per day to 13.15 million bpd in January, the lowest level since February 2024, data from the U.S. Energy Information Administration showed on Monday. That was the biggest decline in monthly U.S. oil output since January 2024, the data showed. The EIA also lowered its estimate of record U.S. oil production in December by about 40,000 bpd to 13.45 million bpd.