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U.S. shale production set to rise to highest on record in May -EIA

Wednesday, 19 April 2023 | 00:00

U.S. shale crude oil production in the seven biggest shale basins is expected to rise in May to the highest on record, data from the Energy Information Administration showed.

Oil output is set to rise 49,000 barrels per day to 9.33 million bpd, the EIA said. Production in the Permian is due to rise to 5.69 million bpd, the highest on record.

Crude output in the Permian basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.69 million bpd. While that would be a record high, oil output from the region is expected to gain by about 13,900 bpd from the previous month, the smallest increase since December, the data showed.

In the Bakken region of North Dakota and Montana, output is due to rise 17,000 bpd to 1.18 million bpd, the highest since December 2021.

Crude oil production in the South Texas Eagle Ford region is due to gain by 6,000 bpd to 1.14 million bpd, the highest since April 2020.
Source: Reuters (Reporting by Scott DiSavino and Stephanie Kelly; Editing by Chris Reese and Deepa Babington)

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