![Crude oil fell despite the US producing record amounts of it](https://market-tracker.in/wp-content/uploads/2023/03/oil-pump.jpg)
Crude oil fell despite the US producing record amounts of it
Crude oil fell -1.29% to settle at 6424, mostly due to record-high output in the United States despite encouraging signs of demand from China. The petroleum output increase estimate for 2023 was revised by the U.S. Energy Information Administration to 12.9 million bpd, which is somewhat less than earlier projections. Citing unanticipated production growth in…