ND Pump Jack Photo
Crude oil production in North Dakota's section of the Bakken Shale averaged nearly 1.2 million b/d in August, according to consultancy Bentek Energy, a unit of Platts. That's a 227,000 b/d increase over August 2013.
Combined oil production from the Bakken and South Texas' Eagle Ford Shale rose by more than 78,000 b/d in August 2014. That's a 3.1% increase over July.
Bakken oil prices are on the downward trend, and fell to the mid $80.00 per bbl mark around the first of September. Eagle Ford oil prices have been below $100.00 per barrel since the middle of August.
According to Bentek Energy, increased production from shale will help keep storage levels at the Cushing, Oklahoma oil hub on pace with domestic refinery demand.