Oil production from seven major U.S. shale plays is forecast to decline by 99,000 barrels a day to 4.55 million barrels a day in August from July, 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 48,000 barrels in August. The Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 32,000 barrels a day, the report said. August oil traded at $45.14 a barrel, down 81 cents, or 1.8%, shortly before the settlement on the New York Mercantile Exchange.
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