US tight oil production moves up a gear
The Permian is leading America's surging crude production, but there are warning signs in the data
The wave of new American tight oil supply hitting the market continues to gather pace. Shale producers are expected to add another 125,000 barrels a day of output in May, bringing the total to just shy of 7m b/d, according to the latest figures from the Energy Information Administration. This growth equals an addition of around 450,000 b/d in just the first five months of the year, so US shale producers are on track to crack 1m b/d of supply growth for the year. The Permian, where activity is hitting frenzied levels, is leading the charge. The West Texas play is adding about 75,000 b/d of production per month following a supportive run up in the rig count, and in price action. The rig count
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