US shale production to rise in July

London (Quantum Commodity Intelligence) - US shale oil production will rise in July, but four of the main producing regions will see slight losses to undermine month-on-month gains in the Permian basin, according to the US Drilling report in June.

Overall, shale production will rise to 7.803 million bpd in July, the highest since November and up 38,000 bpd from 7.765 million bpd in June.

Permian basin production will rise 56,000 bpd month-on-month to 4.663 million bpd in July, adding to the 54,000 bpd monthly gain in June.

Anadarko, Bakken, Eagle Ford and Niobrara basins will see their production slight fall in July from June, while Haynesville production will be unchanged and Appalachian production will inch up by 1,000 bpd.

Some 48% of drilled shale oil wells were located in the Permian basin in May, a record high, noted analysts at DNB Markets.