Reuters | Oil backs away from $70 a barrel ahead of US inventories Reuters U.S. oil production has risen by nearly 25 percent in the last two years to over 10 million barrels per day, C-OUT-T-EIA, taking it past top exporter Saudi Arabia and within reach of the biggest producer, Russia, which pumps around 11 million bpd ... Oil prices continue to fall ahead of supply data Brent oil backs away from $70 a barrel ahead of US inventories Oil Prices Slip On Profit Taking |