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Cheap Crude Tests U.S. Shale’s Breaking Point ...Middle East
Drilling in the U.S. shale patch is starting to slow down amid weaker oil prices and cost uncertainty stemming from the tariff war. Smaller producers are suspending new drilling in anticipation of a turnaround. Perhaps larger producers will follow. The question now is how long until that turnaround. A month ago, Citigroup said that if U.S. oil prices fall below $60 drillers will start drilling less, which is what happens every time oil prices take a dip. At $65 per barrel of West Texas Intermediate, the bank’s analysts said, shale producers…
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