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Reuters/POOL New Last week, when Saudi Arabia let it leak that the kingdom has no intention of leading OPEC toward another cut in production to accommodate the growing volumes of oil from American shale deposits, it was another sign that the Saudi war on shale actually never ended. To properly understand this announcement, we need […]
REUTERS/Lucy Nicholson Over the past two years, American shale oil producers have suffered. The low price environment destroyed returns, bankrupted weak companies, and abruptly halted the shale revolution; geographically, most of shale production shriveled to a mere handful of counties. With lower oil prices, the exuberance of 2012- 2014 was finally reigned in. The price […]
