And it will boom again. Faster than anyone else in the oil industry. Because almost anyone suffers right now. OPEC+ producers need their oil revenues to balance their budgets. Or at least to stave off the worst disaster. And their oil production companies are extremely top-heavy, slow, and cumbersome. When prices go up again, shale will react in no time while the big boys will be slumbering. And while shale is in hell, it works out to be leaner and fitter for the boom that will come. OPEC+ will just wait for good things to happen. Not a recipe for slim and trim. Get going OPEC.
Don't count on America's shale industry to boom once again in response to $50 per barrel oil and Saudi Arabia's plan to throttle back its own oil production.