U.S. shale oil output growth is slowing and nowhere is this more evident than in the Permian Basin, where growth will be under 1 percent in August according to the Energy Information Administration (EIA). The EIA estimated July Permian production reaching 4.23 MMbbl/d (millions of barrels of oil per day), an increase of 55,000 b/d (barrels per day) on June. In contrast in July, the EIA revised production downwards to 4.17MMbbl/d, forecasting growth of just 34,000 b/d by the end of August.
