Oil Could Reach $50 By End of 2016 Production to drop to 8.19 million barrels a day in 2017: EIA U.S. crude production will fall to its lowest since 2013 next year as battered shale drillers idle rigs to conserve cash, according to a government report. Producers from Texas to Alaska will pump 8.19 million barrels a day in 2017, down from 8.67 million this year and less than the 8.46 million previously forecast, the Energy Information Administration said in its monthly Short-Term Energy Outlook Tuesday. The forecast for crude output in 2016 was also cut, from 8.69 million estimated in February. The decline won’t be enough to boost crude prices beyond last year’s level, though, […]