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U.S. February production decreased by 1,197 kb/d to 9,862 kb/d from January?s output of 11,059 kb/d.
The April STEO report forecasted US February production would be 10,280 kb/d vs the reported actual output for February of 9,862, an over-estimate of 418 kb/d.
Rig additions continued in the US from the August low of 172 to the week of April 16. For the weeks of April 23 and 30, the rig count decreased by a total of 2.