Oil price war puts squeeze on US shale companies
Market rout leaves most producers facing prices below production costs
16 March 2020 - 10:01
Houston — For the last five years, US shale oil producers have been battling suppliers for lower costs, and running equipment and crews hard to drive drilling costs down by about $20 a barrel.
The oil market rout last week has left most shale companies facing prices below their costs of production. Opec and major oil producers including Russia have turned on each other to launch a price war that threatens to sink shale companies burdened with higher costs...
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