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High-Cost Shale Projects Seen Vulnerable in Oil Price Slump

Since 2007, U.S. crude oil production in the United States has nearly doubled, thanks mainly to new technologies used in the extraction of shale oil.   The recent rapid fall in the price of oil is a result of simple supply and demand, said market analyst Dominic Haywood of Energy Aspects, a research consultancy in London.   “Production grew by about 1 million barrels per day year on year” because of rising U.S. output, especially in 2014, from shale producers, he...

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