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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.

Singapore

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...

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