Image courtesy of Joshua Doubek/Wikimedia Commons.

Oil production from shale formations in North Dakota and Texas rose by more than 78,000 barrels per day in August London-based research firm Platts said Monday.

The boost represents a 3.1 percent increase over July.

Eagle Ford oil production was 37 percent higher than production levels in August 2013 and fell just short of 400,000 incremental barrels per day available to the domestic market.

Crude oil production in the North Dakota section of the Bakken shale formation averaged nearly 1.2 million bpd in August, a 227,000 bpd increase over August 2013.

Prices of Bakken oil fell to the mid-$80.00 per barrel mark between mid-August and mid-September and Eagle Ford oil prices have trended below $100.00 per barrel since mid-August, the report said.

Platts said increased production will help keep storage levels at the Cushing, Oklahoma oil hub on pace with domestic refinery demand.

The study was conducted by Bentek Energy, an analytics and forecasting unit of Platts.


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