Oil output in biggest US shale oil basin predicted to rise in August to highest on record

NEW YORK: Oil output in the Permian in Texas and New Mexico, the biggest US shale oil basin, is due to rise 78,000 barrels per day (bpd) to a record 5.445 million bpd in August, the US Energy Information Administration (EIA) said in its productivity report on Monday.

Total output in the major US shale oil basins will rise 136,000 bpd to 9.068 million bpd in August, the highest since March 2020, EIA projected.

In the Bakken in North Dakota and Montana, EIA projected oil output will rise 19,000 bpd to 1.192 million bpd in August, the most since December 2020.