These are estimates of current month and month ahead production.
From the Energy Information Administration:
Oil: EIA Drilling Productivity Report: Forecast For Further Declines In U.S. Shale Production
Since the May release when shale production for that month was estimated at 5.643 MMBbl/day the estimated production has declined at around 90,000 barrels per month to this most recent estimate (Aug. 10), for September, of 5.270 MMBbl/day.
This has not been a fast enough decline to reduce the market overhang.
However, for the first time, the production increase per rig is almost nil, an extra 1Bbl/day.
We're still looking for lower prices as production from the MENA countries remains near current production levels, albeit with some constituent changes: lower Saudi Arabia, higher Iraq and Iran, possible wild card in Libya etc. but the contribution of the U.S. to the increase in the oversupply has run it's course.
Until we see the $60-65 range that seemed to get the rigs spinning a couple months ago.
EIA Oil Drilling Productivity Report: Production Per New Well Continues Up, By Region Maintains Downtrend
EIA Drilling Productivity Report: Production Per Rig Continues Up, Production By Region To Decline 91,000 Bbl/Day
May 14, 2015
Oil--EIA Drilling Productivity Report: Production Per Rig Continues Higher; Per Region Rolls Over In June
April 14, 2015
Oil--EIA Drilling Productivity Report: Production Per Rig Still Heading Up
March 13, 2015
Oil & Gas Drilling Rig Efficiency Increasing Dramatically
Feb. 9, 2015
EIA Drilling Productivity Report: Production Per Rig Up Across the Most Prolific Shale Plays
Oct. 1, 2014
EIA Drilling Productivity Report (e.g. higher initial, faster decline in the Eagle Ford)
Oil & Gas: The EIA's Drilling Productivity Report
Oil&Gas: A Deep Dive Into the EIA's New Metric, Rig Productivity