U.S. oil output is expected to fall to 9.393 million barrels per day (bpd) in October from 9.433 million bpd in September, EIA data showed. A record 9.476 million bpd was hit in July. That's because U.S. exploration and production firms were still more focused on returning money to investors and paying down debt than just boosting oil and gas production. U.S. oil and gas production, however, is on track to reach record highs in 2023 and 2024 due in part to rising oil pries. Total gas output in the big shale basins will slip by 0.3 billion cubic feet per day (bcfd) to 98.4 bcfd in October from 98.7 bcfd in September, EIA projected.

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Persons: Nick Oxford, Baker Hughes, Scott DiSavino, Shariq, Mark Porter, Leslie Adler, Paul Simao Organizations: REUTERS, U.S . Energy Information Administration, South Texas Eagle, EIA, Thomson Locations: Midland , Texas, U.S, . U.S, Texas, New Mexico, Bakken, North Dakota, Montana, Appalachia, Pennsylvania , Ohio, West Virginia