NEW YORK—Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is forecast to rise by about 50,000 barrels per day (bpd) to a record 5.453 million bpd in November, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday.
U.S. crude oil output in major U.S. shale basins is due to rise by about 104,000 bpd to 9.105 million bpd in November, its highest since March 2020, the EIA projected.
In the Bakken in North Dakota and Montana, the EIA forecast oil output will rise 22,000 bpd to 1.190 million bpd in November, the most since December 2020….