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2019-11-15 14:00:00

U.S. SHALE FREEZING

U.S. SHALE FREEZING

REUTERS - The U.S. shale industry plans another spending freeze next year, and a sharp slowdown in production growth, as prolific oil and natural gas output has pressured prices and squeezed profits.

Blistering growth in shale fields propelled U.S. crude output to a record 13 million barrels per day (bpd) this month.

As production swelled, U.S. crude futures dropped 7.5% in the third quarter on worries about global trade tensions. Investors have fled the sector as returns have lagged those of market indexes for years. Shale companies have been cutting…

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Earlier:

U.S. SHALE FREEZING
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Tags: USA, OIL, GAS, SHALE
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