Friday 29 April 2016
 
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Shale

US shale's message for Opec: above $40, we are coming back

For leading US shale oil producers, $40 is the new $70.   Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less in decid

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Shale fightback 'will lift US output to record high by 2021'

Oil production in the US will reach a record high by 2021 as efficiency gains help domestic producers to combat the low prices that are likely to force hefty output cuts this year and next, the International Energy Agency (IEA) said.

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Oil rises on IEA's US shale outlook and rig data

Oil rose after the world's oil consumer body said it expected US shale production to fall this year and next, potentially easing a glut that has driven prices to their lowest in more than a decade.   A bounce

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Global oil market will rebalance in 2017: IEA

The global oil market will begin rebalancing in 2017 when US output declines further under pressure from low oil prices before resuming growth again later in the decade to reach an all-time high by 2021, the International Energy Agency (IEA) sai

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As US shale sinks, pipeline fight sends woes downstream

Within weeks, two low-profile legal disputes may determine whether an unprecedented wave of bankruptcies expected to hit US oil and gas producers this year will imperil the $500 billion pipeline sector as well. In the two court fi

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Is Saudi Arabia winning the war against shale?

Saudi officials insist the kingdom's oil production strategy is not aimed at putting US shale producers out of business, a message that has been repeated to visiting US policymakers.   The United States remai

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Oil slump sparks second wave of budget cuts

Less than two months into the year, the top US shale oil companies have already cut their budget for 2016 a second time as the relentless drop in oil prices continues to erode their cash flow. With oil prices firmly wedged in the

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Energy market ‘shifting from scarcity to abundance’

The world is witnessing a shift in the energy market, driven by geopolitics and oilfield discoveries, from a time of great demand and scarcity to one of abundance in supply and weaker demand, said a global industry expert. Referri

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Oil rises after Opec sees market balance in 2016

Oil prices rose on Tuesday after the head of Opec forecast a more balanced market next year and the US energy department said domestic output is likely to fall further, though gains were limited as the overall picture of a market in glut remains

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Opec 'has stalled the shale revolution'

The resilience of US shale producers has surpassed all expectations as they have wrung extra efficiencies out of their operations and pulled rigs back to the most prolific sections of existing plays. The shale sector's ability

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