Shale Drillers Are Staring Down the Barrel of Worst Oil Bust Yet

Shale Drillers Are Staring Down the Barrel of Worst Oil Bust Yet

Shale Drillers Are Staring Down the Barrel of Worst Oil Bust. The split between Russia and its one-time OPEC allies last week has ignited an all-out price war, leaving oil markets defenseless against the unprecedented demand shock brought on by the coronavirus.. When financial markets collapsed in 2008-2009, dragging crude demand and prices down with them, America's shale patch as it is now didn't exist.. American shale companies are largely responsible for years of swelling world supply.. Saudi Arabia in turn started an all-out oil price war on Saturday, slashing its official selling prices by the most in 20 years in an effort to push as many barrels into the market as possible.. Shale drillers large and small have been pummeled by equity investors, with almost half of the companies in the S&P Oil & Gas Exploration & Production Select Industry Index posting double-digit percentage declines on Friday.. , promises to finally generate free cash flow -- which has become something of an obsession in parts of the industry -- may be for naught.. For shale drillers, "becoming free cash flow positive is something similar..