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Shale drillers are staring down the barrel of the worst oil bust yet

Shale drillers are staring down the barrel of the worst oil bust yet

March 09, 2020

America's shale drillers have never faced an oil bust quite like this. The split between Russia and its one-time OPEC allies last week has ignited an all-out price war. U.S. crude prices plunged the most since the 1990s, falling to less than $28 a barrel and rendering vast swathes of the U.S. oil industry unprofitable. Shares and bonds of shale producers plunged Monday, with the S&P 500 Energy Index posting its worst intraday decline on record.

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