EIA Sees Lower Shale Oil Production In September ...Middle East

For the second month in a row, the Energy Information Administration has forecast a decline in U.S. shale oil output, seeing the total falling to 9.415 million bpd in September, from 9.435 million bpd this month. In July, the EIA also forecast that U.S. shale oil output will decline in August, seeing the average for this month at 9.397 million bpd, down from July’s 9.415 million bpd. The production forecast is, in part, based on rig counts in different shale plays, which may not be as significant a fact as the EIA suggests. Industry executives…

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