U.S. oil production at risk as companies run out of money

As much as 400,000 barrels a day of oil production is at risk as U.S. shale companies run out of money and are forced to slow drilling, according to BloombergBusiness. The news service says a loss of that much crude would be the steepest U.S. decline since 1989. Total debt for half of the companies in a Bloomberg index of more than 60 oil and gas producers has risen to 40 percent of their enterprise value and is “a sign of distress that shows equity values are falling in the face of oil’s crash.” For more, read the full story.