Crude output from seven major shale formations is expected to rise by 42,000 bpd in August, to 7.907 million bpd, compared with a 28,000 bpd rise in July, according to Energy Information Administration's (EIA) monthly drilling productivity report, APA-Economics reports citing Reuters.
The forecast is led by growing production in the largest formation, the Permian Basin, where crude output is estimated to rise 53,000 bpd in the month, offsetting falling output expected from the Bakken formation of North Dakota.
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