• Expectations of a record rise in US shale oil production in March


    A data from the US Energy Information Administration showed today, Tuesday, that shale oil production in the United States is expected to rise by about 18 thousand barrels per day in March to a record level of 9.18 million barrels per day, driven by gains in the Permian Basin.

    However, production is expected to remain stable or decrease in six of the seven major rock formations.

    The data indicated that oil production in the Permian Basin, the largest rock formations located in Texas and New Mexico, is expected to rise by 39 thousand barrels per day to a new record at 4.86 million barrels per day. It will be the smallest monthly increase since September.

    Production from the Bakken region in North Dakota and Montana is expected to drop by about 2,000 barrels per day to about 1.47 million barrels per day, continuing to decline for the fourth consecutive month​.

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