U.S. Oil Output Beats Weekly Estimates in June

U.S. crude oil production hit a new record in June at 13.58 million barrels per day, according to the Energy Information Administration’s latest Petroleum Supply Monthly. That’s 133,000 barrels more than May and 2.5 percent higher than a year ago. The new monthly figures also show a sharp disconnect from the EIA’s weekly estimates. For June, weekly reports pegged production at an average of 13.43 million barrels per day. The monthly tally now confirms the U.S. pumped about 150,000 barrels per day more than traders and analysts…