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Oil production in the US is expected to rise by 125K b/d in May

UNITED STATES (OBSERVATORY) –¬†Oil production in the United States is expected to rise in May for a fourth straight month, boosted by a record production in the Permian basin in West Texas and New Mexico, data from the US Energy Information Administration showed on Monday.

The information department said in a monthly report that total oil production is expected to rise by 125 thousand barrels per day to 7 million barrels per day.

Production in the Permian basin is expected to rise by 73,000 bpd to 3.2 million bpd.

Production in the Bakken fields is expected to increase by 15,000 bpd to 1.2 million bpd, the highest level since July 2015. In the Eagle Ford fields, production is expected to rise 24,000 bpd to 1.3 million bpd, the highest since May 2016.

On the other hand, US natural gas production is expected to rise to a record 66.9 trillion cubic feet per day in May, the highest level since record keeping began. It will be more than one billion cubic feet a day higher than expected production in April.