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EIA Forecasts Continued Decline In U.S. Shale Oil Output
Shale oil production in the United States is set to decline for the third month in a row to 9.39 million barrels daily, the Energy Information Administration said in its latest Drilling Productivity Report. That would be down from 9.433 million barrels daily for August and a record-high 9.476 million bpd for July. Most of the decline would come from the Permian basin—the star of the shale patch. There, the EIA has projected a production decline of 26,000 bpd, followed by a 17,000-bpd output drop in the Eagle Ford basin. Reuters noted in a report that the decline this month would be the biggest negative monthly ... (full story)
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- Posted: Sep 19, 2023 5:04am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 91
