US oil production from Permian Basin to reach record high in December

Oil

Oil production from the seven major US shale regions is expected to rise by 84K b/d m-o-m and 529K b/d y-o-y to 8.32M b/d in December, reaching the highest level since April 2020, according to drilling productivity reports published by the US Energy Information Administration (EIA). Output from the Permian Basin, the largest in the US, is set to increase for the sixth consecutive month, rising by 67K b/d m-o-m to a record high of 4.95M b/d.