EIA: U.S. Shale Oil Output Forecast To Edge Down By 30,000 Barrels a Day In November

Oil production from seven major U.S. shale plays is forecast to decline by 30,000 barrels a day to 4.429 million barrels a day in November from October, according to a monthly report from the Energy Information Administration released Monday. Oil output at the Eagle Ford shale play in South Texas is expected to see the largest decline, down 35,000 barrels. However, output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to climb by 30,000 barrels a day. November West Texas Intermediate oil traded at $49.98 a barrel, down 37 cents, or 0.7%, on the New York Mercantile Exchange.