Evidently US Shale producers are not the only ones reducing output..

In Canada's prairies, crude slump puts first oil patch in reverse

Gear Energy Ltd, has idled up to 500 of its least efficient wells this year, many of them in the past weeks. Some cost of up to C$28 ($21.22) a barrel to operate. It costs another C$7 in royalty and transportation fees to get the crude, among the densest in the world, to regional rail hubs - where it was fetching barely $20 a barrel during last month's lows.

"We ask every day: is this well making money today? Will it make us money going forward?" says Roy.

Such questions have been nagging oil industry veterans since crude prices started sliding last year as a result of a supply glut caused by a battle between exporters' group OPEC and North American shale oil producers.

Energy firms around the world have responded by laying off thousands of workers and slashing spending by billions of dollars. But producers here are the first to do what the global market needs to rebalance: turn off the taps. 

Also investment in offshore North Sea Crude production is being cut in half vs two years ago..

( http://www.ft.com/intl/cms/s/0/e3a754e8-5578-11e5-9846-de406ccb37f2... )

Not to mention US Stripper wells...many of which are being shut in on these lower prices..