Permian oil production is forecasted to hit 4.226 million barrels per day next month. The U.S. Energy Information Administration (EIA) has forecasted that Permian oil production will hit 4.226 million barrels per day (MMbpd) next month in its latest drilling productivity report. This marks the first time the EIA has projected oil output in the region to surpass the 4.2MMbpd mark in a drilling productivity report. Permian oil production in June was forecasted to come in at 4.171MMbpd in the EIA’s latest report. Back in May, the EIA anticipated that Permian oil output would be 4.173MMbpd in June. The EIA’s monthly drilling productivity report focuses on the Anadarko, Appalachia, Bakken, Eagle Ford, Haynesville, Niobrara and Permian regions. According to the EIA’s latest report, the Permian is set to see the largest oil output increase from June to July. Permian oil production has more than quadrupled in the last decade, […]