U.S. shale oil production was expected to fall for a 12th consecutive month in November, according to a U.S. government forecast released on Monday, on the back of a two-year global rout in oil markets. November oil production was expected to fall by 30,000 barrels per day to 4.43 million bpd, according to the U.S. Energy Information Administration’s drilling productivity report, the lowest output since March 2014. The biggest decline was in the Eagle Ford in Texas, which was set to drop by 35,000 bpd to 947,000 bpd. In North Dakota, oil production in the Bakken was set to drop by 21,000 bpd to 946,000 bpd. While oil futures are trading at less than half their value of over $107 a barrel in mid-2014, they have recovered […]