US Oil Export Expected To Drop Next Year - Could It Save The Oil Price?
It's predicted US oil output next year will see the steepest fall since 1992 - if true, that has the possibility to drive up the price of oil.
Right now the price of oil sits at $50 dollars a barrel, which is a massive drop from $110 last summer.
The prediction comes from the International Energy Agency (IEA).
US oil production has increased to a record high in the last few years as high prices made investment worthwhile.
Meanwhile, other oil producers, particularly Saudi Arabia, have maintained high levels of production.
This causes the low price to remain constant, as there is an over supply.
But with the possibility of less production from the US, this would possibly cause demand to be higher, leading to the gradual rise of the price of UK brent crude.