Global News

Oil prices fall on bloated United States crude storage

The US EIA expects the output to rise to 9.2 million barrels per day in 2017. Iran's main goal in its downstream expansions, too, is its own market, but increased capacity will provide optionality regarding exports . The country's oil output has increased to 646 MBOPD from 621 MBOPD due to more production from Waha Oil Co. he added. With crude falling back to levels before the November 30 OPEC meeting that sealed the output cuts, the optimism appears to have been swept aside by doubts ...

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