NEW YORK (Reuters) – U.S. shale oil output is expected to rise to 8.1 million barrels per day (bpd) in September, the highest since May 2020, according to the Energy Information Administration’s monthly drilling productivity report on Monday. The forecast is led by growth in the largest formation, the Permian Basin, where crude output is estimated to rise 49,000 bpd in the month, offsetting falling output expected from the Bakken and other top regions. Production in the Permian is expected to reach 4.8 million bpd in September, the highest since March 2020. Total gas output will increase by 0.16 billion cubic feet per day (bcfd) to 86.1 bcfd in September, the EIA said. Gas output in Appalachia, the biggest shale gas basin, was expected to increase by less than 0.1 bcfd to 34.4 bcfd in September.

Source: MetroXpress August 16, 2021 18:56 UTC