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London - US shale producers have responded even more quickly to lower oil prices than analysts expected, which should ensure shale production hits a plateau by May or June and is sustained rather than falling in the second half of the year.
The number of rigs drilling for oil in the United States declined by another 84 last week, according to oil field services company Baker Hughes.
The oil-directed rig count has now fallen by a total of 553, or 34%, since early October, the fastest decline since 1986.
