Oil Up As OPEC Output Falls, Hurricane Impact Seen As 'Negligible'

The U.S. Energy Information Administration said it expects U.S. crude oil production in 2018 to rise by more than previously expected.

The agency forecast that 2018 crude oil output will rise 590,000 barrels per day to 9.84 million bpd. Last month, it expected a 560,000 bpd year-over-year increase to 9.91 million bpd.

(Additional reporting by Libby George and Fanny Potkin in London, and Jane Chung in Seoul; Editing by Marguerita Choy, Greg Mahlich and Chris Reese)

Copyright 2017 Thomson Reuters.


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