Oil production from seven major U.S. shale plays is expected to fall by 92,000 barrels a day in March from February, 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 50,000 barrels a day in March, as the Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 25,000 barrels a day, the report said. Oil prices dropped Monday ahead of the report, with March oil settling at $29.69 a barrel, down $1.20, or 3.9%.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below