UPDATE 1-U.S. shale oil output to rise to record 8.52 mln bpd in July -EIA - Reuters

UPDATE 1-U.S. shale oil output to rise to record 8.52 mln bpd in July -EIA - Reuters:

U.S. oil output from seven major shale formations is expected to rise by about 70,000 barrels per day (bpd) in July to a record 8.52 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday.

The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 55,000 bpd to a fresh peak at 4.23 million bpd in July.

Production in North Dakota and Montana’s Bakken shale basin is also expected to climb by 11,000 bpd to a record 1.44 million bpd, the data showed. Output from the nearby Niobrara basin is expected to rise by 10,000 bpd to a record high of nearly 730,000 bpd.