OPEC’s Plan to Squeeze out U.S. Shale: Is it Working? Thanks to the shale oil boom, the Bakken region has experienced years of unprecedented growth with each year dwarfing the year before. But things have changed since oil prices crashed one year ago. The U.S. Energy Information Administration (EIA) released their latest drilling productivity report showing production across all the shale basins are in decline. The report estimates that in October 2015, the Bakken Shale produced 1.16 MMbpd (million barrels per day) of crude oil—1.8% less than the production levels in September 2015 and 4.6% lower than production was one year previously. This is the first time in over a decade that the production trends have gone backward. have reversed. Related: Marathon Oil Shifts Focus to U.S. Shale Total […]