U.S. projected to cut oil output by two million bpd, driven by free market - DOE
Share:
WASHINGTON (Reuters) - U.S. oil companies are expected to temporarily reduce oil output by about 2 million barrels per day as lower crude prices force companies to cut back operations, the U.S. Energy Department said on Tuesday."The private sector and the free market are driving those cuts," the department said regarding projections in a U.S. Energy Information Administration, or EIA, report.The United States, the world's top oil and natural gas producer, pumped a record of more than 12 million..