Permian Basin Oil Production To Hit Record In January: EIA

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NEW YORK, Dec 12 (Reuters) – The United States’ largest shale basin would see record oil production in January, according to a monthly report from the Energy Information Administration released Monday.

Crude production from the Permian Basin of Texas and New Mexico is expected to increase in January by 71,000 barrels a day to 5,031 million bpd, the EIA said. It would be the largest quantity in its history and the first time that the basin has produced more than 5 million bpd.

Production from the Permian Basin is closely watched by the global oil market as it has pipelined access to export centers in Houston.

Crude production from major US shale formations is expected to increase by 96,000 bpd to 8,439 million bpd in January, the EIA said.

Production in the Haynesville basin is expected to remain stable at 33,000 bpd.

(Reporting by Jessica Resnick-Ault. Edited in Spanish by Javier Leira)

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