U.S. oil production remains near record high: Kemp - Reuters

U.S. oil production remains near record high: Kemp - Reuters:

U.S. crude production remained close to a record level in June but growth has slowed significantly since the end of last year in response to lower oil prices and the slowdown is set to extend into 2020.

Crude output averaged 12.1 million barrels per day (bpd) in June, essentially unchanged from record levels in May and April, according to data from the U.S. Energy Information Administration (EIA) published on Thursday.

Nevertheless, the shale boom is moderating in response to the decline in oil prices since the start of the fourth quarter of 2018, and the deceleration is expected to continue through the remainder of 2019 and 2020.