U.S. oil production hit 20-year milestone in November

U.S. oil production averaged 7.013 million barrels a day in November, the first time since 1992 that the average daily production during a month  has exceeded 7 million, according to revised government figures.

The Energy Information Administration on  Wednesday revised the November figure up from  6.893 million barrels per day. Average daily production during a month had last reached 7 million in December  1992, according to agency figures.

Production for December 2012 rose to 7.03 million barrels per day the agency said, still below the December 1992 figure of 7.1 million barrels per day.

For all of 2012, production averaged 6.474 million barrels per day, the highest since 6.56 million barrels per day in 1995, according to the Energy Information Administration.