U.S. shale oil producers pummeled after OPEC decision | Reuters:
"Fears low oil prices will persist for years sent shares of U.S. crude producers tumbling on Friday after OPEC failed to agree on a unified output cap, effectively letting its 13 members pump at will under a policy aimed in part at squeezing out U.S. rivals.
OPEC ministers, who control a third of the world's oil supply, ended their meeting in Vienna on a discordant note, unable to decide as a group how much it should pump in aggregate.
It appeared for a while OPEC would raise its current 30 million barrels per day (bpd) cap on production, but negotiations broke down after Iran said it would not accept any limits until it emerges from Western-imposed sanctions."
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