U.S. shale production keeps on falling

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American shale oil production is expected to keep on falling in November. U.S. shale output may be falling for 12 consecutive months, Reuters informs citing a new forecast released by U.S. government on Monday.

According to the U.S. Energy Information Administration's drilling productivity report, in November shale oil production will drop to 4.43 million barrels per day which is 30,000 barrels lower that in October. This may become the lowest output level since March 2014. Most of all production is expected to fall in the Eagle Ford in Texas – by 35,000 barrels per day to 947,000 barrels per day, and in the Bakken in North Dakota – by 21,000 bpd to 946,000 bpd.

The Energy Information Administration also expects that natural gas production will be declining for a seventh consecutive month in November too, to a level of 46 billion cubic feet per day, which would be the lowest output level since last July. As compared to the October level, the decline may reach almost 0.2 billion cubic feet, becoming the smallest monthly decline since July.