USA continue to increase shale oil production
The shale oil production will continue to grow in April. This is the 16th month of the continuous production increase in a row. The volume of April production will have to reach 6.95 million barrels a day. This is a new high and that is 131,000 barrels per day more than the volume of the previous month production. According to EIA, the main production volumes will be concentrated on the Permian and Eagle Fort shale formations.
It is also planned to increase gas production in the shale deposits. Thus, production at the main shale gas field Appalachia grew by 4 billion cubic feet per day. Now its production volume is 27.6 billion cubic feet per day. A significant increase in production was recorded in other fields.
The number of shale drilling rigs was increased by one. It is planned to complete drilling of 7 more rigs in the near future.
As a result of the US shale gas and oil production increase, Brent and other oil marks price dropped down.