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Oil price slump drives small-cap US shale firms to breaking point

New York

PLUMMETING oil prices are pushing some of the small-cap companies, which flourished as part of the US shale energy boom, close to their breaking point while also prompting some well-known fund managers to aggressively buy energy stocks.

Concerns about slowing growth in Europe and a stronger dollar have helped push the price of light crude oil down about 25 per cent since June to about US$82 a barrel, creeping closer to the average marginal cost of crude production of about US$73 a barrel for...

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