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| Crude Drops as US Output Reaches Record Since 1992 Posted: 17 Apr 2013 07:11 PM PDT Crude oil dropped today as US output reached the highest rate in more than 20 years. The Energy Information Administration reported that production was 7.2 million barrels per day, the record since 1992, while consumption declined. At the same time, inventories decreased by 1.2 million barrels to 387.6 million. Disappointing earnings of US companies led to a drop of stocks and the Standard & Poor's 500 Index tumbled as much as 2 [...] |
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