EIA: U.S. shale oil production hits 3-year high in April

Recently, the U.S. Energy Information Administration (EIA) released a forecast that in April this year, the crude oil production of major domestic shale oil producing areas in the United States will reach 9.21 million barrels per day, an increase of 68,000 barrels per day from March, which is expected to hit a record before the epidemic. The highest level since December 2019.

Among them, shale crude oil production in the Permian Basin across Texas and New Mexico is expected to reach a record 5.62 million barrels per day, an increase of 26,000 barrels per day from the previous month.

In addition, shale crude oil production across the Bakken formation in North Dakota and Montana is expected to reach 1.16 million barrels per day, an increase of 18,000 barrels per day from the previous month. That would be the highest level since March 2022. Shale oil production in the Eagle Ford formation in Texas is expected to reach 1.13 million barrels per day, an increase of 9,000 barrels per day from the previous month and the highest level since April 2020.