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Spurred on by investors, US oil firms keep drilling despite the supply glut

Shareholders favour growth over returns; execs say they are more efficient now and costs have fallen

Output from 58 shale producers rose 19 per cent in the past year. Despite cutting spending by US$21.7 billion, the group pumped 4 per cent more in the second quarter than in the last three months of 2014.


INVESTORS sent a surprising message to US shale producers as crude fell almost 20 per cent in August: keep calm and drill on.

While most oil stocks have fallen sharply this month, the least affected by the slump share one thing in common: they don't plan to slow down, even