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Opec's 'capitulation' leaves obstacles for US shale drillers

They will need oil to hold above US$50 for months before they commit to more spending: analysts

Total production from the three biggest US shale oil plays - Permian, Eagle Ford Shale and Bakken - may rise by 30,000 barrels a day next year if explorers can set their budgets with US$50 crude.

New York

THE Organization of the Petroleum Exporting Countries (Opec) finally blinked in its two-year price war with US oil producers. Whether that translates into a financial victory for the American shale industry remains to be seen.

Oil prices and the shares of US drillers kept