The production will increase on the deposits in Texas.

The production of shale oil on the deposits of the largest oil and gas producing regions of the USA will increase by 124 thousand barrels per 24 hours – up to 5.193 mln barrels in May versus April. The Energy Information Agency (EIA) of the Ministry of Energy made such forecast, Correspondent.net reports quoting Prime.

Currently, the estimate of the production in April is 5.069 mln barrels per 24 hours. In March, the agency forecast that the production of shale production on main deposits in April will increase by 109 thousand barrels per 24 hours, up to 4.962 mln barrels.

The largest increase of production in May is expected on Permian deposits – by 76 thousand barrels, up to 2.362 mln barrels per 24 hours. On Eagle FordF deposits in Texas, the production will increase by 39 thousand barrels, up to 1.216 mln barrels per 24 hours.

In addition, in May, EIA expects for the increase of gas production on these deposits in the USA by 501 mln cubic feet – up to 50.089 bln cubic feet per 24 hours. The estimate of gas production in April is 49.588 cubic feet per 24 hours.

EIA’s forecasts on oil production are based on the number of drilling installations in each oil and gas sector as per the data of US service company Baker Hughes.

As Correspondent.net reported, previously, IMF assessed the consequences of shale revolution in the USA, stating that it will have strong influence over the global oil market and oil prices.

It should be reminded that in Autumn 2016, the largest shale oil deposit was found in the USA. The reserves of Wolfcamp deposit in Texas are assessed at 20 bln barrels of oil, 0.4 trln cubic meters of natural gas and 1.6 bln barrels of gas condensate.