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MARKET WATCH: Crude oil prices slump on rising US tight oil output
Oil & Gas Journal: Oil prices fell on markets in New York and London Mar. 12, and the US benchmark continued falling in early trading Mar. 13 after the US Energy Information Administration’s latest drilling report forecast tight oil production will rise by 131,000 b/d in April to 6.95 million b/d.
The Drilling Productivity Report focuses on seven key US unconventional regions, using recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells.
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