US producers increase their oil production

The US oil producers is clearly the most satisfied group of high oil prices. The cost of raw materials declined on Friday after it became clear that OPEC and Russia could increase their production. And the latter may be the result of US production growth in an environment of rising production.
US crude oil lost about 1 percent of its value to $66.39 a barrel late Friday, while the Brent fell 0.6 percent to $77.07 and was already more than $3 below its highest since late May.
US oil production is growing at a good pace and weekly data show no signs of slowing down, according to Seaport Global analysts, adding that growth is mainly driven by Texas and New Mexico.
US oil production rose 215,000 barrels per day to 10.47 million barrels per day in March, according to the US energy ministry. Production in Texas rose 4% to 4.2 million barrels per day, while that in New Mexico - by 6.5% on a monthly basis.
Increasing production by US companies in the US is a reality when the market increasingly talks about Russia and OPEC being able to override accepted production constraints. Namely the latter were the basis of the strong rise in oil prices to a maximum of four and a half years.