The U.S. Energy Information Administration expects U.S. crude oil production for 2016 and 2017 to fall by less than previously expected, according to its monthly short term energy outlook released on Tuesday. The agency said 2016 oil production will fall by 580,000 barrels per day (bpd) to 8.84 million bpd. Last month, it had forecasted a 690,000 bpd year-over-year decline. Meanwhile, 2017 oil production will fall by 110,000 bpd to 8.73 million bpd, compared with last month’s forecast of a decline of 140,000 bpd. The EIA increased 2016 U.S. oil demand growth to 110,000 bpd from 70,000 bpd previously. For 2017, the EIA said U.S. oil demand will grow by 260,000 bpd from 230,000 bpd previously. (Reporting by Catherine Ngai; Editing by Marguerita Choy)