The Permian is leading America’s surging crude production, but there are warning signs in the data
The wave of new American tight oil supply hitting the market continues to gather pace. Shale producers are expected to add another 125,000 barrels a day of output in May, bringing the total to just shy of 7m b/d, according to the latest figures from the Energy Information Administration.
This growth equals an addition of around 450,000 b/d in just the first five months of the year, so US shale producers are on track to crack 1m b/d of supply growth for the year.