U.S. shale oil output expected to rise by 113,000 barrels a day in August: EIA
Shale crude-oil production from seven major U.S. oil plays is expected to climb in August, according to monthly report from the Energy Information Administration released Monday. Shale output is seen rising by 113,000 barrels a day to 5.585 million barrels a day in August from July, the EIA said. 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 64,000 barrels a day. August West Texas Intermediate oil CLQ7, +1.39% continued to trade lower, losing 42 cents, or 0.9%, to $46.12 a barrel, less than a half hour before the settlement on the New York Mercantile Exchange.
Read the full story: Oil settles lower as report renews U.S. shale-output worries