United States

Crude oil production in the US shale sector is expected to approach 9.4 million b/d in February, according to the US Energy Information Administration (EIA), primarily led by growth in the Permian Basin and the Bakken tight oil play. The agency’s latest Drilling Productivity Report (DPR), which estimates production from seven major US shale basins based on the number of drilling rigs at work and their productivity, predicts US shale oil output will rise by about 76,000 b/d from January to average about 9.375 million b/d in February. US shale output has steadily risen since the pandemic collapse of 2020, although the rate of growth has slowed in recent months as operators continue to contend with rising costs and equipment shortages. The biggest output gains are once again expected to occur in the Permian Basin of West Texas and southeastern New Mexico, where oil output is seen rising by about 30,000 b/d in February to more than 5.6 million b/d. The EIA also sees crude production in the North Dakota Bakken tight oil play increasing by about 20,000 b/d month to month to 1.23 million b/d. Smaller gains are forecast in the Oklahoma Anadarko Basin, the Colorado Denver-Julesberg Basin and the South Texas Eagle Ford Shale.