Expectations of a decline in US shale oil production

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New York-Sana

The US Energy Information Administration expected that US oil production from the seven major shale formations would decline by about 90 thousand barrels per day in February to about 7.52 million barrels per day, to record the lowest level since last June.

Reuters reported that management data released today showed that production in nearly all of the seven rocky basins is expected to decline and that the largest decline is expected in the Bakken Basin in North Dakota and Montana.

On the other hand, the Energy Information Administration expected that natural gas production in the United States will drop for the third month in a row to 80.6 billion cubic feet per day in February, which will be the lowest level since June 2020.

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Source: Syrian Arab News Agency







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