Crude prices to ease on strong US oil output growth, global inventory builds: US EIA

Crude and petroleum product prices are expected to decline throughout 2023 and 2024, the US Energy Information Administration said Jan. 10, as an uptick in oil production in the US and elsewhere is seen offsetting declines in Russian oil output and allowing for builds in global oil inventories. The US and non-OPEC producers are forecast to add 2.4 million b/d…