Crude-oil production from seven major U.S. shale plays is expected to see a climb of 125,000 barrels a day in May to 6.996 million barrels a day, according to a report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 73,000 barrels a day. The report was released shortly before the settlement for futures prices. May West Texas Intermediate oil clk8 was down $1.16, or 1.7%, to $66.23 a barrel on the New York Mercantile Exchange.
US shale will be contributing an additional 125,000 barrels per day (bpd) of crude oil in May, bringing the total to 6.996 million bpd, according to a report from the Energy Information Administration. The largest growth will be in the Permian basin, an area covering parts of the Permian Basin and southeastern New Mexico. The region is expected to add 73,000 bpd.