US shale oil production to drop

In January 2021, the decline in shale oil output in the United States will be 137,000 barrels compared to December 2020. As a result, daily production will fall to 7,438 million barrels, Report says, citing Energy Information Administration of the US Department of Energy.

The production will decrease in six of the seven hard-to-reach areas. The largest drop is forecasted for projects in the Permian Basin.

Shale oil is expected to fall by 44,000 barrels to 4.2 million per day in January next year.