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US oil production on brink

2015-10-06 19:35:00| Oil & Gas - Topix.net

LONDON: U.S. oil production will start to decline soon unless oil prices rise substantially, oil executives said on Tuesday, saying lower production could pave the way for a spike in the market in future if fuel demand increased. Delegates at the Oil and Money conference in London, an annual gathering of senior industry officials, said world oil prices were now too low to support U.S. shale oil output, the biggest addition to world production over the last decade.

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