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US Crude Production Fell in December

US Crude Production fell to 12.78M b/d in December, down from 12.86M b/d in November, according to the EIA.  

It was the first monthly decline since July but production could return to growth in January. Weekly data from the EIA suggests January production could be over 12.9M b/d. Despite the fall in production, crude exports rose 646K b/d m-o-m to set a record high of 3.66M b/d.