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The US oil outlook is under scrutiny as talks between the US and Iran have been cancelled, putting the focus on West Texas Intermediate (WTI) crude oil prices. The cancellation of talks, which were aimed at reviving the 2015 nuclear deal, has raised concerns about potential disruptions to global oil supplies. As a result, WTI crude oil prices have risen, with traders closely watching the development. The US Energy Information Administration (EIA) has reported that US crude oil production averaged 11.6 million barrels per day in 2022, with WTI crude oil prices averaging around $65 per barrel. The cancelled talks have significant implications for the global oil market, as Iran is a major oil producer and any disruption to its supplies could impact the already tight market. The development is being closely watched by oil traders, investors, and industry experts, as it may lead to further price volatility in the coming weeks.