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US shale oil boom grinds to a halt as Opec keeps pumping

The EIA expects production from the shale plays to drop in July by 93,000 barrels a day, the largest drop since the boom began.

San Francisco

THE shale oil boom that turned the US into the world's largest fuel exporter and brought US$3 petrol back to America's pumps is grinding to a halt.

Crude output from the prolific tight-rock formations such as North Dakota's Bakken and Texas's Eagle Ford shale will