With oil price near $50, resilient U.S. shale producers eye new chapter

The Elevation Resources drilling rig is shown at the Permian Basin drilling site in Andrews County TexasTwo years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $ 50 a barrel, confounding OPEC and Saudi Arabia with their resiliency. To regain market share, the Organization of the Petroleum Exporting Countries in late 2014 pumped more oil despite growing global oversupply.

Business News Headlines – Yahoo! News

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