Shale crude-oil production from seven major U.S. oil plays is expected to climb in August, according to monthly report from the Energy Information Administration released Monday. Shale output is seen rising by 113,000 barrels a day to 5.585 million barrels a day in August from July, the EIA said. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 64,000 barrels a day. August West Texas Intermediate oil continued to trade lower, losing 42 cents, or 0.9%, to $46.12 a barrel, less than a half hour before the settlement on the New York Mercantile Exchange.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- Capitol Report: Charges dropped after ‘London Whale’ accused Jamie Dimon of making him a fall guy - July 21, 2017
- The Wall Street Journal: Amazon, Whole Foods look to head off lengthy deal review - July 21, 2017
- The Wall Street Journal: Hawaii adopts emergency plan for North Korea missile attack - July 21, 2017