October U.S. crude oil production averaged 5.36 million barrels per day, continuing at levels not seen since 2005, according to API's Monthly Statistical Report.

Crude production from the Lower 48 states averaged 4.67 million barrels per day, up from both last year and prior months. And Alaskan output, at 696,000 barrels per day, slipped from last October by 2.8 percent but rebounded from this summer's lows of less than 600,000 barrels per day.

About the production numbers, API's statistics manager Ron Planting said:

"The October production figures continue to detail the industry's success story in the Gulf of Mexico, particularly the deep waters, as well as the way new technologies have helped bring on new production both offshore and onshore."

On the demand side, October gasoline deliver... more »

The Bakken formation is making a noticeable improvement in U.S. oil production. According to API's Monthly Statistical Report for May 2009, U.S. oil production climbed for the fifth straight month largely because of higher output from North Dakota's Bakken shale production.

This formation stretches under North Dakota, eastern Montana and portions of southern Canada. A year ago, the U.S. Geological Survey raised its assessment of Bakken energy potential from a few million barrels of oil to as much as 4.3 billion barrels. In recent months, North Dakota has experienced an old-fashioned oil rush and hundreds of wells have been drilled.

As they say in North Dakota, they are "Rockin' the Bakken" with help from technological advancements, including hydraulic fracturing and horizontal drilling, wh... more »