EIA: U.S. shale oil output forecast to fall 20,000 barrels a day in December
Oil production from seven major U.S. shale plays is forecast to decline by 20,000 barrels a day to 4.498 million barrels a day in December from November, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is expected to see oil output fall by 33,000 barrels a day. However, output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to climb by 27,000 barrels a day. Just ahead of the day's settlement, December West Texas Intermediate oil traded at $43.53 a barrel, up 12 cents, or 0.3%, on the New York Mercantile Exchange.
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