EIA: US crude production, prices falling
Agency says Brent forecast at $40 this year, $50 in 2017; low oil prices resulted in first annual production decline since 2008
Brent crude oil prices are forecast to average $40 per barrel this year and $50 per barrel in 2017, the U.S. Energy Information Administration said Jan. 12 in its Short-Term Energy Outlook.
The agency said North Sea Brent crude oil averaged $38 per barrel in December, down $6 per barrel from Novemb....
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US production down
Lower 48 impacts
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