Warm Weather Pattern Erodes Crude Oil Prices

Petroleum prices are under pressure on Friday and continue to face headwinds due to warmer than expected weather and consistent crude oil production. Earlier in the week the EIA forecasts non-OPEC crude oil production to grow by 1.2 million barrels per day in 2015, and then decline by 0.4 million barrels a day in 2016, which would be the first annual decline in…