Weak economics in the energy sector may lead to a general decline in total U.S. crude oil production, a short-term federal market report finds. The U.S. Energy Information Administration said in its short-term market report total U.S. crude oil production declined by 120,000 barrels per day from August to September. By next year, EIA expects crude oil production to fall from the expected 2015 average of 9.2 million bpd to 8.9 million bpd next year. “Expected crude oil production declines from May 2015 through mid-2016 are largely attributable to unattractive economic returns in some areas of both emerging and mature onshore oil production regions,” EIA said in its latest report. Crude oil prices are down about half from this time last year. West Texas […]