Oil production from seven major U.S. shale plays is projected to rise by 127,000 barrels a day to 5.475 million barrels a day in July from June, according to a monthly report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 65,000 barrels a day. July West Texas Intermediate oil held onto its earlier gains, trading 42 cents, or 0.9%, higher at $46.25 a barrel, a few minutes before the settlement on the New York Mercantile Exchange.
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