US shale oil production will fall to 7.49 million b/d in August, down 56,000 b/d from July and the lowest in two years, the US Energy Information Administration said July 13. Receive daily email alerts, subscriber notes & personalize your experience. Register Now EIA cut its estimate for July production by 86,000 b/d from last month’s outlook to 7.546 million b/d, according to its latest Drilling Productivity Report. Permian Basin oil production is expected to fall to 4.16 million b/d in July, down 103,000 b/d from last month’s outlook. EIA expects the West Texas/New Mexico basin to pump 4.147 million b/d in August, the lowest since March 2019. Of the seven major US shale oil basins, only […]