| With oil prices having dropped by roughly 50% since last summer, U.S. oil companies have quickly reduced their investment plans and idled drilling rigs. Many pundits have assumed these actions would quickly be followed by falling production numbers.
While that might seem intuitive, it did not prove true. At some point, reduced drilling activity will inevitably lead to a fall in crude oil output -- but that point could be far in the future. For the moment, domestic oil production is still rising steadily...............................................Full Article: Source
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