US shale oil output to drop 46,000 bpd in April

NEW YORK: US oil output from seven major shale formations is expected to decline by about 46,000 barrels per day (bpd) in April to about 7.46 million bpd, the US Energy Information Administration said in a monthly forecast on Monday.

Output at nearly every formation is expected to fall and the biggest declines are expected to come from the Eagle Ford and Niobrara basins, the data showed.

Output from the Permian, the top producing basin in the country, is expected to rise by about 11,000 bpd to 4.3 million bpd.