US shale output set to fall to lowest level since 2018

Oil

Oil production from the seven top US shale regions is expected to fall by a record 197K b/d m-o-m to 7.82M b/d in June, the lowest level since August 2018, according to Drilling Productivity Reports from the Energy Information Administration (EIA). Production from the Permian Basin is expected to decline the most, falling by 87K b/d m-o-m to 4.29M b/d, with the Eagle Ford Basin also set to fall by 36K b/d m-o-m to 1.17M b/d.