The United States shale production is projected to increase by 38,000 bpd to 7.803 million in bpd, one of the highest output in the U.S from November 2020.
- The Permian, largest oil basin will contribute a significant increase in oil output by 56,000 bpd.
- The gap in the current production and pre-pandemic oil production has been narrowing. EIA projects the 2021 oil production to be around 11.04 million bpd.
- The return to pre-pandemic oil output will require huge investment to increase drilling activities and exploration of further rigs.
The count of drilling but uncompleted wells reduced by 247 in May, Permian will see a significant decline in unfinished wells.
