U.S. shale oil production will increase by a modest 42,000 bpd in August, according to the Energy Information Administration. In its latest Drilling Productivity Report , the EIA forecast that almost all of this production increase will come from the Permian, at 52,000 bpd. Production in the Appalachia Basin will also increase, by 2,000 bpd. At the same time, the EIA said, production across the rest of the shale plays, excluding Haynesville, will decline by a combined 13,000 bpd. Production at Haynesville will remain flat on the month. This modest forecast increase would push total U.S. shale oil output to 7.9 million bpd in August, still a far cry from what the U.S. shale basins were producing before the pandemic as shale drillers remain cautious of sudden price swings in the price of oil. This cautiousness played a bad joke on some shale producers, however. These companies hedged their […]