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US Shale Oil Production to Rise in March: EIA

OIL

US oil production is set to rise in March to 9.716m b/d across the major shale plays, according to the EIA Drilling Productivity Report.

  • This compares to 9.696m b/d in Feb and is higher than the 9.693m b/d in the December report.
  • Permian is set for the largest rise of 14k b/d to 6.09m b/d.
  • Bakken will rise to 1.206m b/d but remains well below 1.304m b/d in December. Production is the region was hampered by cold weather in January.
  • The number of drilled but uncompleted wells fell to 4,386 in January, down 13 from December, as producers tap these wells to boost production.
  • US gas production is set to be 100.45 bcf/d in February and 100.425 bcf/d in March.

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