Analysis-U.S. shale oil just had its worst year and the pain could bleed into 2021
U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good.
Deep spending cuts that came with the collapse in fuel demand and oil prices due to the COVID-19 pandemic have ended an era that put the U.S. atop the ranks of the world’s biggest producers. The shale industry will ring in the New Year pumping 7.44 million barrels per day (bpd), down nearly 20% from the beginning of 2020.
US shale oil just had its worst year
Shale industry will ring in the New Year pumping 7.44m barrels per day, down nearly 20% from the beginning of 2020
Reuters December 23, 2020
NEW YORK/
HOUSTON:
US oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good.
Deep spending cuts that came with the collapse in fuel demand and oil prices due to the Covid-19 pandemic have ended an era that put the US atop the ranks of world’s biggest producers. The shale industry will ring in the New Year pumping 7.44 million barrels per day (bpd), down nearly 20% from the beginning of 2020.
Analysis-U.S. shale oil just had its worst year and the pain could bleed into 2021 kelo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kelo.com Daily Mail and Mail on Sunday newspapers.
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Analysis-US shale oil just had its worst year and the pain could bleed into 2021 U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good.
FILE PHOTO: Pump jacks operate at sunset in Midland, Texas, U.S., February 11, 2019. REUTERS/Nick Oxford
22 Dec 2020 07:11PM (Updated:
22 Dec 2020 07:36PM) Share this content
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HOUSTON/NEW YORK: U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good.
U.S. shale oil just had its worst year and the pain could bleed into 2021 theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.