US shale output to rise more-than 100k bpd for the 4th straight month

According to the latest EIA, projected crude oil output will rise by 127,000 barrels a day next month in several of the US shale basins, CNBC reports.

In July, total output from these resources is expected to reach nearly 5.5 million barrels a day.

Production from new oil wells per rig topped out at 704 barrels a day in August, and is expected to fall to 602 barrels per rig in July.