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US shale growth at risk as oil prices fall

The shale drilling boom triggered by the rise in oil prices following OPEC's November production-cut deal is starting to backfire on shale producers as the oversupply and production increases drag oil prices below $45 per barrel. Should prices plunge to $40 per barrel, smaller shale drillers will be forced to scale back activity even in the Permian Basin, with potentially adverse implications for oilfield service providers.

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