Stockpiles unexpectedly jumped as well
Oil prices rose Wednesday after data showed record US crude production and an unexpected build of supplies last week.
West Texas Intermediate was up 0.3% to $67.46 a barrel at 11:30 a.m. ET. Brent, the international benchmark, was up 0.9% to $72.24 a barrel.
US crude production hit 11 million barrels per day for the first time on record, the Energy Department said. Meanwhile, domestic crude supplies rose by 5.8 million barrels in the week ending July 13. Analysts had expected a drawdown of 2 million to 3 million barrels.
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