Business & Finance: Crude Oil

All weekly production records for domestic crude oil were broken during the week ending May 30, when output attained the unprecedented figure of 2,347,984 barrels. Hitherto, the record production week had been that ending July 14, 1923, when output was 2,320,514 barrels.

The gain was mainly due to heavy outflow in the Smackover district (Oklahoma), with lesser increases in the California, Gulf Coast, Kansas, Rocky Mountain and North Texas fields.

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