EIA: US Shale Output To Rise By 125,000 bbl/d In May

[CMOP + 227]

U.S. shale oil production is expected to increase in May for the fourth consecutive month, U.S. Energy Information Administration (EIA) data showed today (April 16th), boosted by record production in the prolific Permian Basin of West Texas and New Mexico.

Total oil output is set to rise by 125,000 barrels per day (bbl/d) to 7 million barrels per day (MMbbl/d), the EIA said in its monthly drilling productivity report.

Production in the Permian Basin is expected to jump by 73,000 bbl/d to 3.2 MMbbl/d, the largest according to records dating back to 2007.

Meanwhile, U.S. natural gas production was projected to increase to a record 66.9 billion cubic feet per day (Bcf/d) in May, the highest on record. That would be up more than 1 Bcf/d over the April forecast.