Tuesday, January 18, 2022

US shale oil production expected to rise in October to an 18-month high

The US Energy Information Administration said that oil production from the seven major shale formations in the United States is expected to rise by about 66,000 barrels per day in October to 8.1 million barrels per day, which will be the highest since April 2020.

The administration clarified in a report that these expectations are based on production growth in the Permian Basin, the largest US shale oil field, where estimates indicate that

Production will increase by 53 thousand barrels per day next month to 4.8 million barrels per day, the highest since March 2020.

Production in most other shale areas is expected to remain stable or register small increases.

The Energy Information Administration also forecast that US natural gas production from shale basins will rise to a record level for the fourth consecutive month.

The government agency indicated that total natural gas production will rise by 0.2 billion cubic feet per day to 87.3 billion cubic feet per day in October.

3D render of pump jacks in an oil field
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