Brent up $2 from May, 5th consecutive gainEIA forecasts average $44 this year, $52 in 2017; June price averaged $48 per barrel; US crude production continues to decline KRISTEN NELSON For Petroleum News
U.S. crude oil production continues to drop, the U.S. Energy Information Administration said July 12 in its Short-Term Energy Outlook. The average was 9.4 million barrels per day in 2015, EIA said, and its forecast for 2016 is 8.6 million bpd, dropping to 8.2 million bpd in 2017.
The agency’s estim....
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Worldwide production Crude oil prices US crude production Natural gas
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