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Crude Oil Rally Continues

Crude oil prices continued to rise Tuesday even as the government said to expect robust production from U.S. drillers.

The U.S. Energy Information Administration boosted its 2018 and 2019 forecasts on U.S. crude-oil production, according to the agency's monthly Short-Term Energy Outlook report released Tuesday.

The EIA raised its 2018 domestic crude production forecast by 1% to 10.7 million barrels per day.

April WTI crude added 3 cents, or less than 0.1%, to settle at $62.60 a barrel on the New York Mercantile Exchange.

by RTT Staff Writer

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