Reported 1 day ago
The Energy Information Administration (EIA) has revised its forecast for US oil production, now expecting an average of 13.53 million barrels per day in 2025, up from 13.44 million previously, despite warnings of an oversupplied market leading to lower prices. The agency forecasts crude inventories will continue to rise, putting pressure on prices, with West Texas Intermediate crude estimated to average around $65 per barrel this year, a decline of 15% from last year.
Source: YAHOO