Existing oil production 'mostly untouched by current oil price'
Analysts also say it will take at least another US$10 price fall before output is shut down to reduce supply glut
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EVEN at US$50 per barrel, current oil prices will not affect most existing oil production.
With operating costs still significantly lower, it would take at least another US$10 drop in oil prices before existing production would be shut down to reduce the current supply glut, analysts said on Thursday.
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