US shale oil output is set to draw level with the March 2015 record of 5.472mn b/d this month and rise further to 5.585mn b/d in August, according to figures in the EIA’s latest Drilling Productivity Report, released 17 July.

Output was 5.356mn b/d in June, up 105,000 b/d on May and the highest since June 2015. If the August output figure (based on the latest drilling data) proves correct, this would be a rise of 757,000 b/d since the start of 2017.

Gains to US shale production are...