NEW YORK (Bloomberg) -- West Texas Intermediate crude fell below $90 for the first time in 17 months as fracing drives U.S. output to its highest in four decades. Futures dropped as much as 1.6% to $89.31/bbl in New York, bringing the decline this year to 9.3%. U.S. crude output will rise next year to the highest since 1970, the Energy Information Administration forecast Sept. 9. Saudi Arabia, the world’s largest oil exporter, dropped its official selling price for crude to Asia to the lowest level since 2008 on Oct. 1. Brent crude, the European benchmark, fell 16% this year.
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WTI slips below $90/bbl for first time in 17 months on supply
![WTI slips below $90/bbl for first time in 17 months on supply]()
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