US shale oil production to rise 109K b/d m-o-m in March

Oil

The Energy Information Administration (EIA) forecast total US shale oil production to rise 109K b/d m-o-m and 808K b/d y-o-y to 8.7M b/d in March, according to their Drilling Productivity Report. This would see shale oil production to be at the highest level since March 20. The Permian is expected to account for the majority of the increase with a 71K b/d m-o-m rise in output to 5.2M b/d.