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U.S. shale oil output to rise to record 8.8 mln bpd

Christian Fernsby |
U.S. oil output from seven major shale formations is expected to rise by 74,000 barrels per day (bpd) in October to a record high 8.843 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday.

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Topics: U.S.    OIL   

The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen climbing around 71,000 bpd to a record high 4.485 million bpd in October. That is the ninth consecutive month of increases in the basin, its longest streak since December 2018.

Output in North Dakota and Montana’s Bakken region is expected to edge higher by about 2,000 bpd to a record 1.471 million bpd, the data showed. That is the smallest increase in the basin since May.

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