The Energy Information Administration’s latest Drilling Productivity Report indicates U.S. shale production is set to fall to a two-year low in the coming weeks, according to Yahoo Finance.
EIA estimates show oil production from the country’s leading shale basins is set to fall by 197,000 barrels per day in June compared to a month earlier. The Permian Basin is leading the way, cutting 87,000 bpd.
U.S. natural gas production is also set to fall by about 1 percent — or 779 million cubic feet per day (mcf/d)— in June. The Appalachian Basin will lose 85 mcf/d.
Learn more: Yahoo Finance > Permian Basin Leads Decline In U.S. Shale