BERLIN - The German and French economy ministers have asked experts in Berlin and Paris to come up with reform recommendations for both countries in an apparent attempt to avert a full-blown clash between the euro zone heavyweights over economic policy.
A boom in U.S. oil production, which has helped reduce dependence on foreign oil, has been propelled by high prices. Drilling in some areas of North Dakota and Texas, for example, produces only a slight output per day. If prices fell further, drilling would have to slow because it would no longer be profitable.
Oil hasn't fallen quite far enough for that to happen, analysts say. Even the more expensive drilling operations are still profitable when oil sells for $85 a barrel, and oil closed just below $86 on Monday. In general, oil companies would have to expect oil prices to