UPDATE 3-U.S. shale oil, natgas output growth to hit slowest in a year -EIA - Reuters

UPDATE 3-U.S. shale oil, natgas output growth to hit slowest in a year -EIA - Reuters:

U.S. oil and natural gas output in major shale formations is expected to rise by the smallest in about a year in February to record highs, the U.S. Energy Information Administration (EIA) said on Tuesday, as producers pull back on new drilling.

Shale oil output is expected to rise by about 22,000 barrels per day (bpd) in February to about 9.2 million bpd, which would be the smallest monthly increase since production declined in February 2019.

U.S. gas output in the big shale basins was projected to increase less than 0.1 billion cubic feet per day (bcfd) to a record 86.0 bcfd, its smallest monthly increase since a drop in January 2019.

The Permian and Bakken regions have been the biggest drivers of a shale boom that helped make the United States the biggest oil producer in the world, ahead of Saudi Arabia and Russia.