American shale oil may go bust

Reading UK (The Convesation) Apr 24, 2020

U.S. oil is suffering unprecedented distress, as demonstrated by the benchmark West Texas Intermediate crude price crashing into negative territory. This is a "triple black swan" of an oversupply of oil driven by OPEC and Russia, COVID-19 demand destruction and having nowhere to store it. Oil traders reacted on Monday, the day that May forward contracts for WTI crude were due to settle. Ma