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US oil production hits record high of 12 million barrels per day

US crude oil production rose to a record high of 12 million barrels per day (bpd) in the week ending Feb. 15, the weekly EIA petroleum data showed last week.

Further, the US oil exports hit an all-time high of 3.607 million bpd, topping the previous lifetime high of 3.203 million bpd set in the last week of November 2018.