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US shale oil output to reach 2-year low on falling prices

by ChemOrbis Editorial Team -
  • 12/04/2016 (16:29)
According to media reports, shale oil production in the US is about to reach the lowest level in nearly two years due to lower prices, which stand at less than half the levels of 2014.

The US Energy Information Administration (EIA) reported that shale oil output in the country is expected to decline by 115,000 barrels per day (bpd) to 4.84 million bpd, indicating the largest monthly drop and the lowest output level since July 2014, according to Bloomberg.
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