• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 1 day China deletes leaked stats showing plunging birth rate for 2023
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 7 days Bad news for e-cars keeps coming
Could Deflecting the Sun Help Cool the Planet?

Could Deflecting the Sun Help Cool the Planet?

Scientists conducted a pilot test…

Oil Prices Climb as Sentiment Continues to Improve

Oil Prices Climb as Sentiment Continues to Improve

Oil prices have been climbing…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

EIA Sees Record U.S. Shale Output Despite Slow Growth

  • The Energy Information Administration expects the biggest U.S. shale regions to produce record-high levels of crude oil in July.
  • While the biggest shale regions are expected to produce record-high volumes, the pace of growth is set to be its slowest since December 2022.
  • The Bakken region is set to lead the gains in crude oil production in July while the Permian will lead natural gas gains.
Shale Output

The biggest U.S. shale regions are expected to produce a record-high level of crude oil in July, but growth is sputtering and set to be the slowest since December 2022, data from the Energy Information Administration showed on Monday.

The seven main shale-producing regions in the United States are expected to pump 9.375 million barrels per day (bpd) of crude oil next month, a record high, according to estimates in the EIA’s Drilling Productivity Report.

While output could reach an all-time high, it would be only 8,000 bpd higher than the estimated June crude oil production of 9.367 million bpd.

The Permian, the top-producing region, is set to see only a 1,000-bpd increase in output, although July production is expected at a record 5.763 million bpd. The rise in output would be the smallest in the Permian since February 2023.

The Bakken region will lead the gains with crude oil production set to rise by 7,000 bpd from June to 1.214 million bpd in July. The estimated production from the shale basin in North Dakota and Montana would be the highest since November 2020, according to EIA’s forecasts.

While small gains are expected in the other regions, the Eagle Ford is expected to see its crude oil production drop by 5,000 bpd to 1.117 million bpd, which would be the lowest output level since April 2023.

In natural gas output, the Permian will lead gains in July, followed by the Bakken and Appalachia, while output in the Anadarko and Eagle Ford basins is set to decline next month compared to June, according to the EIA estimates.

Over the past five weeks, the total number of active drilling rigs in the United States has dropped by 53, Baker Hughes data showed on Friday. The total rig count fell to 695 last week—38 rigs below this time last year. The current count is 380 fewer rigs than the rig count at the beginning of 2019, prior to the pandemic.  

By Tsvetana Paraskova for Oilprice.com


More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment
  • Mamdouh Salameh on June 13 2023 said:
    This is hype. The more hype the US Energy Information Administration (EIA) makes about US oil production, the more the market ignores it.

    US shale oil is a spent force. The estimated shale production drillers can achieve is 5.5-6.0 million barrels a day (mbd) and not 9.375 mbd as the EIA is claiming giving a total US production of 9.5-10.0 mbd.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News