Analyst Pin-board: Headwind for US shale oil?
After the OPEC+ meeting in March 2020, no agreement was approved, leading to a breakup of talks between OPEC and its allies. Saudi Arabia cut the selling price and increased the production volume from 9.2 mbpd to 10 mbpd. As a result, oil prices have plummeted to the lowest level in the past five years. Once again, the US shale oil industry is under pressure as the current oil price is below the breakeven point of many companies.
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