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Shale Industry

Shale Industry latest

Report: US Shale Industry at The Brink of Bankruptcies, Consolidation
June 23rd, 2020 - 09:30 GMT

Report: US Shale Industry at The Brink of Bankruptcies, Consolidation

The U.S. shale industry, hammered by low demand, international competition and high debt, is poised for "great compression," a report from multinational accounting service Deloitte said Monday. Shale companies face "an economic storm on the horizon" as oil prices have dropped by more than 50 percent to below $30 a barrel, down from around $60 before the pandemic. Lockdowns across the world caused drastic changes in the crude oil market ...
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