EIA Predicts A Record Drop In U.S. Shale Oil Production

Crude oil production in the seven major US shale basins will fall by a record 197,000 barrels per day next month, the Energy Information Administration reported on Monday. Production in the seven most prolific shale basins in the United States is expected to fall to 7.822 million bpd, the EIA said, down from 8.019 million bpd this month. It will be a record monthly loss. The largest drop on the list for crude oil and condensate production is in the Permian, which is expected to fall by 87,000 bpd to 4.290 million bpd. The next largest…