EIA forecasts U.S. shale oil output to climb by 85,000 barrels a day in April

Crude-oil production from seven major U.S. shale plays is forecast to climb by 85,000 barrels a day in April to 8.592 million barrels a day, according to a report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see the largest climb among the big shale plays, with an increase of 40,000 barrels a day in April from March. The April contract for West Texas Intermediate oil futures was trading up 58 cents, or 1%, at $59.10 a barrel ahead of its settlement on the New York Mercantile Exchange.

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