US energy firms have cut oil rigs for a third week in a row- a sign that the latest crude market weakness was causing drillers to put on hold production plans, triggering a slight increase in prices on Monday. Analysts estimate that US drilling has slowed and US$1.5 trillion worth of planned American production was uneconomical at prices of US$50 per barrel or lower. The ongoing low prices are beginning to impact production as drillers slow down new projects, especially in cost-sensitive North America where drillers react fast to changing prices.
21-Sep-15 
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