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How Much Global Oil Output Halted Due to Low Prices? Just 0.1 Percent

2016-02-05 17:57:39| Energy - Topix.net

After a year of low oil prices, only 0.1 percent of global production has been curtailed because it's unprofitable, according to a report from consultants Wood Mackenzie Ltd. that highlights the industry's resilience. The analysis, published ahead of an annual oil-industry gathering in London next week, suggests that oil prices will need to drop even more - or stay low for a lot longer - to meaningfully reduce global production.

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