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U.S. Expects Permian Oil Output to Rise to Record in December

  • Output projected at over 4.96 million barrels a day this month
  • EIA sees production topping 5 million barrels a day in January
U.S. Refiners Could Be Forced To Slow Production As Gasoline Profits Drag
Photographer: Angus Mordant/Bloomberg

Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as a rebound in the U.S. shale industry fuels activity in its most prolific patch. 

Supplies from the Basin, which straddles West Texas and New Mexico, is projected to reach 4.96 million barrels a day in December, the Energy Information Administration said Monday in a report. The current record of 4.91 million barrels a day was set in March 2020. The agency also sees supplies exceeding 5 million barrels a day next month for the first time in data going back to 2007.