U.S. crude oil imports for the first full week in October were down by more than 7 percent from one year ago, the U.S. Department of Energy found. The department’s Energy Information Administration released weekly data on the domestic energy sector. For imports, EIA found the United States imported around 7.4 million barrels of oil for the week ending Oct. 10, down 7.4 percent from the same week in 2013. For production, EIA data show the United States produced 8.8 million bpd for the first full week of October, up nearly 18 percent from the same time last year. By next year, EIA expects total U.S. crude oil production to reach 9.5 million bpd, which would be the highest annual average crude oil production since 1970 if realized. The Organization of Petroleum Exporting […]