OPEC Hit U.S. Oil Firms Harder Than First Thought

August 31, 2015 4:10 PM

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OPEC Hit U.S. Oil Firms Harder Than First Thought

The drilling and spending cuts that U.S. oil firms made after OPEC sent prices plunging had a bigger impact on production this year than previously estimated.

The Energy Information Administration said Monday that crude oil production in June was 9.3 million barrels per day, down by 100,000 barrels per day from a revised May 2015 forecast.

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