EIA: U.S. Shale Oil Output To Fall 114,000 Barrels a Day In May

Oil production from seven major U.S. shale plays is expected to fall by 114,000 barrels a day in May from April, 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 62,000 barrels a day in May. The Bakken shale play, which stretches from Canada into North Dakota and Montana, is expected to see output fall by 31,000 barrels a day, the report said. May oil continued to trade higher, up 56 cents, or 1.4%, to $40.28 a barrel on the New York Mercantile Exchange.