EIA sees a slight dip in US share production in August

The EIA sees US share regions producing 9.399 million barrels per day in August, down 18,000 barrels per day after a 5,900 bpd rise in July.

The evidence continues to mount that we're at the peak of US shale supply and that it will be tough to sustain later in the decade, barring a drilling technology breakthrough.

WTI crude oil is down $1.36 to $74.07 as Libyan production resumes after a short blockade and the market worries about Chinese demand.