EIA forecasts U.S. shale oil output up by 62,000 barrels a day in February
Crude-oil production from seven major U.S. shale plays is forecast to climb by 62,000 barrels a day in February to 8.179 million barrels a day, according to a report from the Energy Information Administration released Tuesday. 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 23,000 barrels a day in February from January. February West Texas Intermediate oil pared some of its earlier declines, trading down $1.02, or 1.9%, at $52.78 a barrel just ahead of its settlement on the New York Mercantile Exchange.
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