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No One Expected U.S. Shale Oil Output Cuts to Happen So Fast

  • Millions of barrels of North American daily supply cut: Plains
  • Quick action by local producers helps save market from glut
Historic Oil Rout Breaks Shale, Trump's Energy Dominance
Photographer: Matthew Busch/Bloomberg
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In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production.

But few expected that the cuts would run this deep -- and happen so quickly.