Will U.S. Shale Ever See Another Golden Age?

Haps of unpaid debt, unsympathetic banks and investors, slow oil demand, and looming bankruptcies: this is the landscape in U.S. shale oil right now.  Most forecasts for the future, however, are upbeat, with analysts expecting production to actually rebound to pre-Covid-19 levels at some point in the next five years. But will it? Since March, total U.S. oil output has declined by as much as 2.6 million bpd, thanks to the double blow from the oil price war and the coronavirus pandemic that shattered demand. Most forecasters, including Morgan…