From today's Oil and Gas Journal's Digital Edition:
"The seven major onshore producing regions in the US are expected to collectively increase oil output by 124,000 b/d month-over-month in May to average 5.193 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report.
The monthly DPR tracks the total number of active drilling rigs, drilling productivity, and estimated changes in production from existing oil and natural gas wells in the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica. The seven regions accounted for 92% of domestic oil production growth and all domestic gas production growth during 2011-14.
The regions’ production rebound has been gaining steam each month this year, led by an industrywide focus on the Permian basin, where oil output is expected to increase 76,000 b/d month-over-month in May to 2.362 million b/d. The neighboring Eagle Ford, the site of a more recent resurgence, is forecast to rise 39,000 b/d to 1.216 million b/d."
OPEC can't control a free market.
