EIA WTI, Brent 2016 oil price forecasts rise from August outlook The forecast drop in U.S. oil output just got a little less steep. The Energy Information Administration boosted its domestic output forecast for this year to 8.77 million barrels a day, up half a percentage point from its estimate last month, as some drilling rigs return to work and productivity from existing wells increases. It also raised its estimate for 2017 to 8.51 million, up 200,000 barrels a day from last month’s Short-Term Energy Outlook . The slower pace of oil declines, from the 44-year high of 9.42 million barrels a day last year, comes after West Texas Intermediate crude climbed more than 50 percent from a 12-year low in February. Producers boosted the number of rigs seeking oil in 12 of the past 14 weeks, according to Baker […]