U.S. crude oil production is expected to fall by 210,000 barrels per day (bpd) in 2021 to 11.10 million bpd, the U.S. Energy Information Administration (EIA) said on Wednesday, a smaller decline than its previous forecast for a drop of 230,000 bpd. Oil prices have rebounded to their highest levels in about three years, helped by output curbs by the Organization of the Petroleum Exporting Countries and allies. The rise has prompted some U.S. producers to increase drilling activity, with total rig counts rising for an 11th consecutive month in June. However, that was the smallest monthly increase since September 2020. read more In the coming months, global oil production, […]