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US Shale Oil Production Set to Reach Record Numbers in October
US Shale oil production for October is forecasted at 6,083,827 b/d which is at an all-time high record, up 1.3% m-o-m and 15.3% y-o-y, according to data by the US Energy Information Administration (EIA). Meanwhile, the shortfall of verified monthly production widened in June from 150 kb/d to 220 kb/d as compared to the weekly data, which according to a Deutsche Bank analyst creates rising concerns that the market focuses on the weekly data too much, overestimating the pace of production growth.