EIA lowers oil production forecasts
Washington (UPI) Sep 10, 2015 - Seasonal factors offshore and weak economics onshore are expected to lead to a decline in U.S. crude oil production, a federal report said. The U.S. Energy Information Administration said in a short-term market report total crude oil production will decline 4.3 percent from expected full-year 2015 levels to 8.8 million barrels per day by 2016. EIA forecasts were revised down by 100,000 ... more
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