If shale bleeds, many NOPEC producers are in death throes. Let’s not forget that those countries depend for their survival on oil revenues. Shale has only its own companies to carry. An unwinnable battle for NOPEC.
U.S. shale oil plays are “riding the edge of profitability” at current prices and the industry faces a significant slowdown in fracking activity if crude falls below $50/bbl for a sustained period, according to BloombergNEF.