You are here

US oil 'strippers' keep pumping despite slump

They produce over a tenth of US oil output, enough to affect supply-demand balance and prices
Wednesday, January 6, 2016 - 05:50

BT_20160106_KVOIL6_2051602.jpg
Brent crude dropped below US$35 a barrel to an 11-year low before weekly US government data forecast to show fuel supplies rose in the world's biggest consuming nation.

Houston

US "stripper well" operators, the nation's smallest oil producers seen as most likely to succumb to the crude price slump, are hanging in tough, reducing the chances of near-term production cuts needed to rebalance the domestic oil market.

The conventional wisdom is that "

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom