Shale oil boom goes bust as expected production dips for first time in years

April 13, 2015 11:56 PM

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Shale oil boom goes bust as expected production dips for first time in years

The U.S. shale oil boom that powered the country’s highest crude oil production levels in decades appears to be slowing down due, in part, to a glut of supplies.

Oil output from the most productive U.S. shale fields is expected to drop off next month by 57 million barrels of crude daily from April to May, the U.S. Energy Information Administration said Monday. That would represent the first monthly decline in more than four years, according to Reuters.

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