Collective US shale oil output topped 7mn b/d for the first time in May. At 7.07mn b/d, it’s up a massive 1.47mn b/d year-on-year, topping the previous record annual gain of 1.37mn b/d set in 2014. For the key Permian shale basin of west Texas, May’s 3.208mn b/d is not only a new record but up 830,000 b/d year-on-year (see chart, MEES, 22 June).
The US government’s Energy Information Administration (EIA) reckons that the party will continue, for now at least. The EIA’s latest shale-focussed monthly ‘Drilling Productivity Report’, released 18 June, forecasts new shale output records of 7.198mn b/d and 7.339mn b/d for June and July based on the latest drilling data. The latter figure would mark a massive 1.64mn b/d year-on-year increase (MEES, 15 June & MEES, 22 June for full data). (CONTINUED - 2314 WORDS)
