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US oil output expected to rise in tandem with higher prices

2016-12-19

With oil prices on the rise following the OPEC production deal,US output is expected to increase,say analysts at ING.US crude oil production last week reached 8.8 million barrels a day,a 99,000 barrel-a-day weekly increase.Production in the US has been edging higher over recent months,up 300,000 barrels a day from levels at the end of September 2016.Given the higher prices,ING expects US output to continue increasing in the coming months.