Despite the low oil prices that brought on by the combination of the coronavirus pandemic’s migration to the United States and the oil price war between Russia and Saudi Arabia, US shale producers will together hit a new record output next month, according to the Energy Information Administration (EIA). Today, the EIA predicted that OPEC’s shift to maintain its market share will cause global inventories to increase further, and prices to fall further . And the US shale will do its part to contribute to a global increase. Oil production in the seven most prolific shale basins will hit a new high of 9.075 million barrels per day in April, an increase of 180,000 barrels per day. The largest increase will come from producers in the Permian basin, adding 38,000 bpd of the 180,000-bpd total increase, reaching 4.79 million bpd. All other basins are expected to see a decrease […]