US crude prices have dipped to below 30 US dollars a barrel, for the first time in 12 years. Analysts see continued downward pressure ahead, as US stockpiles remained at near-record levels. The U.S Energy Information Agency said in its report that the nation’s crude oil production averaged an estimated 9.4 million barrels per day in 2015, and it’s forecasted to average 8.7 million per day in 2016.
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