The Death Of US Oil ...United Arab Emirates

The US oil industry is facing an unprecedented collapse, and as the global economy faces its worst recession since the 1930s, the industry isn’t likely to recover to pre-crash levels ever again. It’s game-over for most of the US oil industry. Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That means no income. Most have considerable debt so bankruptcy is next. Peggy Noonan wrote in her column recently that “this is a never-before-seen level of national economic calamity; history doesn’t get bigger than this.” That is the superficial view. Coronavirus has changed everythin

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Last updated : 29 April 2020 clock 11:40 AM

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The Death Of US Oil ...United Arab Emirates

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