U.S. shale production is set to snap a three-month decline in February, the U.S. government said on Tuesday, as energy firms boost drilling activity with crude prices hovering near 18-month highs. The month-on-month increase in production would be the first since October and the third rise in a year, according to the U.S. Energy Information Administration’s drilling productivity report. February production will edge up 40,750 barrels per day (bpd) to 4.748 million bpd, the EIA said. In January, it was expected to drop by 5,900 bpd. In the Permian Basin in West Texas and eastern New Mexico, output is set to rise by 53,000 bpd to 2.180 million bpd, the data showed. North Dakota’s Bakken oil production was set to drop by 20,000 bpd to 978,000 bpd. Eagle Ford oil output from Texas […]