EIA Predicts Shale Oil Output Cuts to Grow Next Month
This article is for subscribers only.
The U.S. lost about 1 percent of the oil production flowing from its shale formations this month, and the decline is just starting.
Output from the prolific tight-rock formations such as North Dakota’s Bakken and Texas’s Eagle Ford shale will slide 54,227 barrels a day this month, based on Energy Information Administration estimates. It’ll fall another 86,000 barrels in June to a five-month low of 5.56 million, the agency said Monday.