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US shale oil output projected to decline for eighth-consecutive month

Oil

US shale oil output in December is expected to fall by 118K b/d m-o-m to 4.95M b/d, according to the US Energy Information Administration. If this occurs it would mark the eighth-consecutive month of declines in shale oil production. The Eagle Ford region is predicted to experience the largest nominal decline, with output dropping by 78K b/d m-o-m to 1.3M b/d.