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US shale oil output to rise 113,000 bpd in December

US shale oil output to rise 113,000 bpd in December

Mubasher: Crude oil production from the seven most prolific US shale regions was set to jump by 113,000 barrels per day (bpd) to a total of 7.944 million bpd in December, official report said.

Oil production in the Permian Basin, which covers western parts of Texas and southeastern New Mexico would make the largest contribution with an increase of 63,000 bpd in December to 3.695 million bpd from 3.632 million bpd in November, the US Energy Information Administration (EIA) said in its monthly Drilling Productivity Report on Tuesday.

The second largest increase was expected to come from Eagle Ford at 17,000 bpd to 1.432 million bpd, while Bakken production would add 15,000 bpd to a total of 1.373 million bpd.

By 8:44 am GMT, US Nymex futures dipped 0.27% to $55.54 per barrel (pb), while global benchmark Brent crude futures went up 0.09% to $65.53 pb.