Record Costs Slam U.S. Drillers as Oil Output Growth Slows
- Supplier delivery time rose, Dallas Fed survey shows
- Global energy crunch is boosting oil and natural gas prices
Photographer: Eddie Seal/Bloomberg
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America’s oil producers are boosting output at a slower place as record costs hammer the shale patch, according to a survey of industry executives.
Out of 47 responding companies that supply producers with everything from software to workers, just one reported lower input costs in the third quarter, according to a report released Wednesday by the Federal Reserve Bank of Dallas.