Oil Price | Irina Slav
U.S. oil production is at a record levels powered by West Texas shale output.
Shale oil production in the United States will rise by a record-breaking 144,000 bpd from May to June, hitting 7.178 million bpd, the Energy Information administration estimated in its latest Drilling Productivity Report. Hardly surprisingly, the Permian will lead the way with a 78,000-bpd increase in production, from 3.199 million bpd this month to 3.277 million bpd in June. The Permian will be followed by Eagle Ford, where average daily oil production will rise by 33,000 bpd from 1.354 million bpd to 1.387 million bpd.