Oil Prices Fall as U S Shale Production May Decline
The Energy Department’s EIA expects second half 2015 onshore U S crude output to peak at 7.4 million barrels per day in May and fall to 7.2 mbd by December as prices slide. Brent and U S benchmarks dropped, with gasoline and diesel savings cited for consumers. The report notes uncertainty in forecasting and potential rebound if prices rise in 2016.
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