EIA sees slower oil production in US shale regions

EIA projections for US oil production:

• Eagle Ford oil production for June forecast down 47,000 barrels per day
• Bakken crude oil production for June forecast down 31,000 barrels per day
• Permian oil production forecast up 7,000 barrels per day

Considering oil prices cratered 8 months earlier, that's not much of a decline in production for a country that's producing 9 million barrels per day. Consider that Canadian production continues to rise and that Iran will begin to flood the market around June and that's a recipe for a fresh rout in oil prices.