$50 Oil Could Crush American Shale Growth ...Middle East

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$50 Oil Could Crush American Shale Growth
OPEC+ just agreed to boost oil production for another month. Luckily for U.S. shale, they also decided to pause the hikes, which would help the shale industry dodge the bullet of WTI of $50. This is good news for an impressively resilient industry, because its resilience seems to taper out around $50 per barrel. This weekend, the OPEC+ group said it would add another 137,000 barrels daily to global supply. That was bearish news after an extended streak of monthly hikes. Yet the producer cartel also said it planned to suspend the hikes next year…

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