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  • U.S. Shale Oil Output to Hit Record 8.4 Million Bpd in March: EIA

    02/19/2019 1:43:23 PM PST · by Red Badger · 31 replies
    money.usnews.com ^ | Feb. 19, 2019, at 3:15 p.m. | by Devika Krishna Kumar, Jonathan Oatis, Marguerita Choy)
    NEW YORK - U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 43,000 bpd to a record 4.024 million bpd in March. A shale revolution has helped boost the United States to the position of world's biggest crude oil producer, ahead of Saudi Arabia and Russia. Overall crude production...