US shale oil production will slip to 7.632 million b/d in July, down 93,000 b/d from June and the lowest in two years, the US Energy Information Administration said June 15. EIA trimmed its estimate for June production by 97,000 b/d from last month’s outlook to 7.725 million b/d, according to its latest Drilling Productivity Report. Permian Basin oil production is expected to fall to 4.27 million b/d in June, down 20,000 b/d from last month’s outlook. EIA expects the West Texas/New Mexico basin to pump 4.263 million b/d in July, the lowest since May 2019. US crude production from onshore shale basins peaked […]