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Financial Commentary—U.S. Shale Oil: The New Global Swing Producer
Over the past decade, U.S. shale oil has become an important swing factor in the global supply equation. Recently, falling crude prices have prompted a precipitous decline in drilling activity in these plays. Despite this, production has continued to rise. A declining rig count is only the start of a supply response. The eventual impact on production will likely be measured in quarters not months. Read the full economic outlook in the latest edition of Global Insight.
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