Shale oil production in the United States is expected to jump again in July, marking the fourth straight month the Department of Energy has forecast monthly growth above 100,000 barrels a day.
The department’s U.S. Energy Information Administration on Monday projected crude oil output will rise by 127,000 barrels a day next month in several of the nation’s shale basins, where producers use advanced drilling methods like hydraulic fracturing to squeeze oil and natural gas from rock formations.
In July, total output from these resources is expected to reach nearly 5.5 million barrels a day, according to EIA.
