U.S. OIL DOWN 114,000
Crude oil production in May from the seven major US shale regions is expected to fall 114,000 b/d month-over-month to 4.84 million b/d, according to the US Energy Information Administration's latest Drilling Productivity Report (DPR).
The DPR focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US crude production increases and all US natural gas production increases during 2011-13.
More than half of the total decline is expected to come from the Eagle Ford, which is forecast to fall 62,000 b/d to 1.18 million b/d. The Bakken is projected to drop 31,000 b/d to 1.05 million b/d, and the Niobrara is projected to decrease 16,000 b/d to 404,000 b/d.
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