How Much Oil Output Halted Due to Low Prices? Just 0.1%
- Wood Mackenzie says global output down 100,000 barrels a day
- Oil consultant expects producers to continue pumping at a loss
The Numbers Don't Lie for Oil
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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.