U.S. crude supply will fall 800,000 barrels a day this year Energy Information Administration’s Adam Sieminski in Riyadh U.S. crude production is set to decline this year as the Organization of Petroleum Exporting Countries struggles to put a dent in global oversupply, according to the head of the U.S. Energy Information Administration. Output in the U.S. will fall 800,000 barrels a day this year, Adam Sieminski, administrator for the EIA, said in an interview in Riyadh. That would be the first drop since 2008, data compiled by Bloomberg show. OPEC’s attempts to carry out an agreement on limiting production are still “very much up in the air,” he said. “The U.S. has always felt markets would do a better job at re-balancing supply and demand than organizational activities,” Sieminski said. “There is potentially a role for OPEC, but I think markets ultimately are the key to how supply and […]