Crude-oil production from seven major U.S. shale plays is forecast to climb by 84,000 barrels a day in March to 8.398 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 43,000 barrels a day in March from February. The March contract for West Texas Intermediate oil futures was trading up 28 cents, or 0.5%, at $55.87 a barrel ahead of its settlement on the New York Mercantile Exchange.
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