Oil output expected to decrease by 57 million barrels over next month
Tuesday, April 14, 2015
The United States’ shale oil production is expecting its first monthly decrease in several years, according to Fortune.
Data released by the U.S. Energy Information Administration April 13 shows that from April to May, the amount of crude oil produced by the country’s most productive shale plays (Bakken, Eagle Ford, Haynesville, Marcellus, Utica, Niobrara and Permian) will fall by 57 million barrels.
This decrease is attributed to the excessive amount of oil worldwide. Companies have been forced to cut back on production due to low prices resulting from the oil glut.
Via: Fortune > Shale oil boom goes bust as expected production dips for first time in years
Related:
- World oil prices affect Ohio drilling Feb. 25, 2015
- Low oil prices impact decisions in shale industry Jan. 14, 2015
- Shale oil drilling to slow down while oil prices drop Dec. 17, 2014
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