• 3 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 7 minutes Saudi and UAE pressure to get US support for Oil quotas is reportedly on..
  • 11 minutes China devalues currency to lower prices to address new tariffs. But doesn't help. Here is why. . . .
  • 15 minutes What is your current outlook as a day trader for WTI
  • 10 hours Long Range Attack On Saudi Oil Field Ends War On Yemen
  • 3 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents * Too late now
  • 8 hours Will Uncle Sam Step Up and Cut Production
  • 14 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 2 hours Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 2 hours 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 23 hours Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 2 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 1 day NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 23 hours Continental Resource's Hamm wants shale to cut production. . . He can't compete with peers.
  • 2 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 2 days Significant: Boeing Delays Delivery Of Ultra-Long-Range Version Of 777X
  • 1 day Why Oil is Falling (including conspiracy theories and other fun stuff)

U.S. Shale Set For 109,000 BPD Increase Next Month

Oil Rigs

OPEC just can’t seem to catch a break; shale drillers in the U.S. are now expected to increase April oil output by 109,000 barrels per day, according to new information published Monday by the Energy Information Administration.

The EIA’s Drilling Productivity Report is now forecasting a 109,000-barrel-per-day increase in oil production from the seven most prolific oil-producing basins in the United States, to reach an average of 4.962 million barrels per day in April 2017, up from 4.853 million barrels per day last month.

The April increase—98 percent of which is expected to come from the Permian and Eagle Ford basins—come at a stressful time for OPEC, which has been hoping for some respite from the supply glut along with more attractive barrel pricing, what with OPEC’s agreement to cut 1.2 million barrels per day from its combined oil production.

While barrels prices have lifted, so too has U.S. shale production, not to mention the rise in U.S. crude oil inventories—a situation that may not only derail OPEC’s plans to ease the glut, but may also keep OPEC from extending the deal come May, with heavyweights such as Saudi Arabia reticent about how it will proceed when faced with losing even more market share without the reward of increased prices.

From December 2016 to April 2017, the Permian is expected to increase oil production from new and legacy wells by 222,000 barrels per day, from 2.063 million bpd to 2.286 million bpd. Niobrara is the second biggest gainer in that five-month span, and is expected to increase daily production from 404,707 bpd to 443,840 bpd.

Related: U.S. Shale Faces A Workforce Shortage

Overall, using EIA forecasted data, production from the seven most prolific basins is expected to increase 277,538 barrels per day in April from December levels, offsetting more than 15 percent of what OPEC and the 11 non-OPEC nations are trying to cut.


Source: Energy Information Administration

For April, the Bakken is expected to decrease production by 10,000 barrels per day, while Haynesville and Utica basin—also the worst performers in terms of growth since December—are expected to remain flat.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com: 



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play