U.S. oil output from seven major shale formations is expected to decline by about 68,000 barrels per day in October to 7.64 million bpd, the U.S. Energy Information Administration said in its monthly productivity report on Monday.
That would be the first decline in production since May, according to revised data from the agency reported Reuters.
Output at every formation is expected to fall in October, except the Permian basin of Texas and New Mexico, where production is expected to rise by about 23,000 bpd to 4.17 million bpd, the data showed. That would be the smallest increase since production declined in May, the data showed.
The biggest decline is expected to come from the Eagle Ford basin in South Texas, where output is expected to fall by nearly 28,000 bpd to 1.13 million bpd.
Source: Reuters