US shale output expected to dip for eighth consecutive month

US shale oil output is expected to fall in June for the eighth consecutive month, according to a U.S. government forecast on Monday, as the squeeze from a two-year rout in crude prices worsens.
Total output is expected to fall by nearly 113,000 bpd to 4.85 million bpd, according to the U.S. Energy Information Administration’s (EIA) drilling productivity report released on Monday.
Bakken production from North Dakota is forecast to fall 27,000 bpd, while production from the Eagle Ford formation is expected to drop 58,000 bpd. Production from the Permian Basin in West Texas is expected to drop 10,000 bpd, according to the data, representing its second consecutive monthly decline.
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