Shale Oil Boom Could End in May After Price Collapse
Oil to Stabilize as Refineries Reduce Supply: York
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The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt.
Output from the prolific tight-rock formations such as North Dakota’s Bakken shale will decline 57,000 barrels a day in May, the Energy Information Administration said Monday. It’s the first time the agency has forecast a drop in output since it began issuing a monthly drilling productivity report in 2013.