An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder
Reuters: U.S. shale oil output to hit record high 7.9 million barrels per day in December: EIA
NEW YORK (Reuters) - U.S. crude oil output from seven major shale basins was expected to hit a record of 7.94 million barrels per day (bpd) in December, according to a monthly government forecast released on Tuesday.
The total oil output from the basins was expected to rise 113,000 bpd, driven largely by increases in the Permian Basin of Texas and New Mexico, where output was forecast to climb by 63,000 bpd to about 3.7 million bpd in December, the U.S. Department of Energy’s Energy Information Administration (EIA) said.
Output was also expected to rise in each of the other basins, except for the Haynesville, where it would remain unchanged at 43,000 bpd.
U.S. natural gas production, meanwhile, was projected to increase to a record 75.1 billion cubic feet per day (bcfd) in December. That would be up more than 1.0 bcfd over the November forecast and would be the 11th monthly increase in a row.
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WNU Editor: A success story that deserves far more attention.
2 comments:
Production up in spite of Obama.
I enjoyed paying $2.60 a gallon instead of $3.00.
Thank you Republicans!
For a windbag, he certainly doesn't say much about his ill thought out prior pontificating, does he?
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