U.S. shale oil output to hit record 8.4 million bpd in March: EIA

 Mar 12 2019
NEW YORK (Reuters) - U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday.

The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 43,000 bpd to a record 4.024 million bpd in March.

A shale revolution has helped boost the United States to the position of world’s biggest crude oil producer, ahead of Saudi Arabia and Russia. Overall crude production has climbed to a weekly record of 11.9 million bpd.

Read more at https://www.reuters.com/article/us-usa-oil-productivity/u-s-shale-oil-output-to-hit-record-8-4-million-bpd-in-march-eia-idUSKCN1Q82JQ