Economics
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US Shale Oil Drillers Are Finally Buckling As OPEC Pumps On
- February 26, 2016
- Posted by: admin
- Category: Economics, International
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(Bloomberg) — U.S. oil drillers are finally beginning to buckle. For more than a year, American oil producers found a way to keep pumping despite a worldwide slide in crude prices. Like cartoon character Wile E. Coyote, U.S. drillers dashed off the cliff and somehow kept running in midair, maintaining volumes even as revenue plummeted.