EIA: Oil Output From Major Shale Plays To Fall 91,000 Barrels a Day In July

Oil production from seven major U.S. shale plays is expected to fall by 91,000 barrels a day in July from June, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is forecast to see the biggest decline, down 49,000 barrels a day in July, as the Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 29,000 barrels a day, the report said. Oil prices traded lower for the entire session Monday, with July oil settling at $58.14 a barrel, down 99 cents, or 1.7%.