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Vitol: US oil production growth to flatline after 2018

US oil output could increase by 500,000 to 600,000 barrels per day in 2018, leading to a rise in costs that will likely drag growth to a standstill in the years to follow as some production becomes unprofitable, according to Ian Taylor, president and CEO of oil trader Vitol. Slowing US production growth along with strong global demand should bolster oil prices, lifting them above the $50-to-$60-per-barrel range, Taylor added.

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