U.S. crude oil and natural gas 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 on Monday, APA-Economics reports citing TradingView.
Oil output is set to rise 49,000 barrels per day to 9.33 million bpd, the EIA said.
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.
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.
Total natural gas output in the big shale basins will increase by about 0.3 billion cubic feet per day (bcfd) to a record 97.2 bcfd in May, EIA projected.
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