In 2014, shale drillers were pushed to the brink of oblivion by low oil prices, and today with prices nearing similar levels it seems the sector has not learned its lesson.
It feels like 2014 for the oil industry all over again, except this time, things could get even worse. Most US shale wells have a breakeven well above today’s current oil prices. The result will be that the shale industry in the United States will be hit – and hard. Why is US shale not prepared for this low-price environment?
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