U.S. Shale Production Won't Bounce Back Until 2021

It could take a year before U.S. shale production starts to rise again, the chief executive of Precision Drilling Kevin Neveu told Bloomberg. This could happen even if a hypothetical second wave of Covid-19 infections has a milder effect on the U.S. economy than the first one, and even if the economy rebounds, Neveu noted. However, it is U.S. shale that will lead the recovery in the wider oil industry, he also said. “They’re [shale oil producers] taking it on the chin right now, and certainly production is slowing down and activity…