Low oil prices may bite into 2015 US shale growth: IEA
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London
FALLING oil prices may cut investment in US shale oil by 10 per cent next year, the International Energy Agency (IEA) said, slowing growth in a sector that has turned the United States into a major global producer.
The recent drop in oil prices "should not blind us to the problems that may be around the corner," Fatih Birol, the IEA's chief economist, said ahead of the launch of the agency's 2014 World Energy Outlook.
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