Feds: Oil industry will get relief next year

Published May 10, 2016 6:33pm ET



U.S. oil production is expected to pick up in a big way next year after months of sluggish growth due to a global supply glut, the federal government said Tuesday.

“U.S. crude oil production in 2017 is expected to be more than 100,000 barrels per day higher than previously forecast in response to higher oil prices,” said Adam Sieminski, the head of the Energy Information Administration, the Energy Department’s independent research arm.

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