The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen climbing 75,000 bbl/dd to 4.42 million bbl/d in September, also an all-time high.
To balance the market, Westwood Global Energy Group believes between an estimated 30 to 50 million tons needs to be removed over the next 12 to 18 months.
The independent E&P focused on the Eagle Ford joins a growing list of companies filing bankruptcy.
Sinopec and CNPC are speeding up drilling and exploration from major tight and shale oil and gas formations in western China to boost domestic output.
Pioneer Natural Resources recently divested a small slice of its acreage position in the Midland Basin, which CEO Scott Sheffield said will be the lone survivor of the U.S. shale boom.
The company reported falling well costs in the Permian Basin as production increased.
The number of active U.S. rigs has fallen by 102 to 942 in the past year, according to Baker Hughes, a GE company. But shale production in July hit 8.52 million barrels per day, a year-over-year increase of about 16%, according to government data.