US shale oil production to decline in October

Oil

Oil production from the seven top US shale regions is set to decline by 70K b/d m-o-m and 1.45M b/d y-o-y to 7.64M b/d in October, after previously increasing for four consecutive months, according to drilling productivity reports from the US Energy Information Administration (EIA). Output from the Permian Basin is set to edge up by 23K b/d m-o-m to 4.17M b/d, however, production from the six other main regions is predicted to decline. The largest decrease is expected to come from the Eagle Ford Basin, falling 28K b/d m-o-m and 285K b/d y-o-y to 1.13M b/d.