Shale output in US seen to drop for 12th month in November

Washington

US shale oil production was expected to fall for a 12th consecutive month in November, according to a US government forecast released on Monday, on the back of a two-year global rout in oil markets.

November oil production was expected to fall by 30,000 barrels per day to 4.43 million bpd, according to the US Energy Information Administration's drilling productivity report, the lowest output since March 2014.