A new government forecast says oil output will increase to record levels in the Permian Basin in Texas and New Mexico while production will also grow in Oklahoma’s Anadarko Basin.
In its Productivity Report this week, the U.S. Energy Information Administration said the Permian Basin will see its production in June rise 88,000 barrels a day to a record 5.219 million bpd.
May production for the Permian had been estimated at 86,000 barrels a day.
In the Anadarko Basin, the EIA forecast a production increase of 4,000 barrels a day reaching 395,000 barrels a day in June, up from 391,000 barrels a day in May.
The EIA predicted production in the Bakken will surge by nearly 17,000 barrels of oil a day reaching a daily June production of more than 1.1 million barrels.
The Eagle Ford, according to the EIA will see a June daily increase of 27,000 barrels a day total of nearly 1.2 million bpd.
