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(FT) Oil price fall threatens $1trillion worth of projects

Posted on December 16, 2014 by Kendall Harmon

The findings suggest the supply glut that has sent prices tumbling could soon vanish as the oil majors delay big-ticket production projects ”” the lifeblood of future petrol supplies, heating fuels and chemicals.

Brent, the international benchmark, has fallen more than 45 per cent since mid-June amid surging US shale production, strong supply from the Opec cartel and weak oil demand in Europe and Asia.

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