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U.S. oil output is expected to grow less than expected in 2017 - EIA
February 7, 2017 / 5:32 PM / in 9 months

U.S. oil output is expected to grow less than expected in 2017 - EIA

NEW YORK, Feb 7 (Reuters) - U.S. oil production is expected to rise 100,000 barrels per day to 8.98 million barrels in 2017, 0.3 percent less than previously forecast, according to a monthly U.S. government report released on Tuesday.

“Global oil supply and demand is now expected to be largely in balance during 2017 as the gradual increase in world oil inventories that has occurred over the last few years comes to an end,” said Howard Gruenspecht, acting administrator of the Energy Information Administration, the statistical arm of the U.S. Department of Energy. (Reporting By Jessica Resnick-Ault; Editing by Marguerita Choy)

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