Two years into the worst oil price rout in a generation, large and mid-sized US independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding Opec and Saudi Arabia with their resiliency. That shale giants Hess Corp, Apache Corp and more than 25 other companies have beaten back Opec’s attempt to sideline them would have been unthinkable just months ago, when oil plumbed $26 a barrel and collapses were feared. To regain market share, Opec in late 2014 pumped more oil despite growing global oversupply. It aimed to drive prices lower and force higher-cost producers out of the market, with shale oil seen as especially vulnerable. The pain was acute. Industry revenue fell more than 30 per cent in 2015 from the previous year, the US […]