Shale Industry Faces Low Oil Prices: Production at Risk

U.S. shale drillers face challenges as low oil prices threaten production, with the Permian Basin experiencing economic hardship. Despite focusing on maximizing recovery from existing wells, sustained low prices could make current production levels unsustainable. Analysts predict growth in U.S. shale oil production, but the industry suggests a slowdown before prices hit extreme lows. The early signs of a slowdown were overlooked, contributing to a global oversupply that kept pressure on prices.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.