Oil Production in US Seen Tumbling Due to Price Drop

September 11, 2015 1:18 PM

40 0

PARIS — Oil supply from the United States, Russia and other non-OPEC countries is expected to drop sharply next year — possibly the steepest decline since the Soviet Union collapsed — because of low prices, the International Energy Agency forecast Friday.

In its latest monthly report, the IEA says non-OPEC production is expected to drop nearly half a million barrels to 57.7 million barrels a day. It said that would be the largest annual drop since 1992, when non-OPEC supply shrank 1 million barrels after the USSR fell apart.

Also watch: Jay Cutler will have season-ending surgery so here are his 2017 options

Read more

To category page

Loading...