Permian oil output forecast to hit record high in June

Oil output in the Permian in Texas and New Mexico, the biggest US shale oil basin, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the US Energy Information Administration (EIA) said in its productivity report.

Total output in the major US shale oil basins will rise 142,000 bpd to 8.761 million bpd in June, the most since March 2020, the EIA projected.

In the Bakken in North Dakota and Montana, the EIA projected that oil output will rise 17,000 bpd to 1.189 million bpd in June, the most since December 2020.

In the Eagle Ford in South Texas, output will rise 27,000 bpd to 1.176 million bpd in June, its highest since April 2020.
Source: Reuters