Growth in US shale oil output seen slowing to 4-year low in April
Number of rigs down 41% since December due to oil price crash
Wed, Mar 11, 2015 - 5:50 AM
Oil output from six major US shale plays will be 5.6 million barrels a day in April, a rise of 298 over March, says EIA. The number of rigs in operation fell to 922 on Friday, compared to 1,609 in October.
REUTERS FILE PHOTO
THE biggest slowdown in oil drilling on record is showing signs of reining in the US shale boom.
US shale oil output is expected to post the slowest growth in more than four years in April, the Energy Information Administration said on Monday. That follows a 41 per cent...