U.S. drillers pumped 11.85 million barrels a day in December, according to the Department of Energy's first monthly reading.
U.S. oil production dipped in the final month of 2018, but December output still exceeded earlier projections, according to the Department of Energy.
However, for the fifth month in a row, EIA's report on monthly oil production showed that the bureau's weekly reports underestimated the amount of oil being plumbed from U.S. fields. EIA's earlier weekly readings, issued two to three months ago, had shown December output at 11.6 million to 11.7 million bpd.
That does not mean EIA will continue to report better-than-expected monthly production figures. To be sure, the dip in December tracks with expectations for a temporary moderation in U.S. production growth.
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