US Shale Oil to increase in July

US shale Oil output is due to rise 143,000 barrels per day (bpd) to a record 8.901 million bpd in July, the highest since March 2020 the U.S. Energy Information Administration (EIA) said in its productivity report.

The agency added that Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to increase 84,000 barrels per day (bpd) to a record 5.316 million bpd next month.

In the Bakken in North Dakota and Montana, EIA estimated oil output will surge 19,000 bpd to 1.197 million bpd in July, the most since November 2020.

Meanwhile, in the Eagle Ford in South Texas, output will rise 28,000 bpd to 1.180 million bpd in July, its highest since April 2020.