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Only a 100,000 barrels a day of the 96 million barrels pumped worldwide has so far been shut down, research group Wood Mackenzie has said .
It says the apparent financial resilience of some producers could delay a recovery in the oil market that has seen an oversupply of two million barrels a day push prices down by about 70 percent over the past 18 months.
Most of the capacity shut down has been in Canada's oil sands, conventional US projects and ageing fields in the North Sea, according to the research.
It says 3.5 percent of worldwide production, is “cash negative” at Brent prices of $35 per barrel.
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