US shale basins crude production flirts with 10mbd
As total US crude production remains at 13.3mbd (an all time high), crude production from the major shale basins flirts with 10.0mbd. The highest production amount was reached in November and December of 2023 at 9.85mbd. A weather event in January caused production to drop to 9.3mbd. Production rebounded to 9.7mbd in February and is forecast to increased by another minor 20kbd in March. This according to the latest DPR data released by the EIA. Thus, production from the major US shale basins accounts for 73% of all US crude production. Production the 4 major basins (Permian, Bakken, Eagle Ford, and Niobrara) account for 94% of the production coming from the shale basins currently. US oil-directed rig count remained steady near 550 for the most recent 4 consecutive months recorded in the DPR (October-January) based on the latest report.
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