U.S. Shale Faces Toughest Challenge Since the 2020 Oil Price Plunge

The U.S. shale industry is being hit by the crash in oil prices, which have slumped since President Donald Trump’s tariff announcement last week. Despite the strong relief rally on Wednesday, following President Trump’s 90-day pause of tariff hikes on most countries except China, the U.S. benchmark oil price is now lower than the breakeven for the shale industry to profitably drill a new well. WTI Crude prices were down nearly 1% at $61.76 per barrel in Asian trading on Thursday. That level is already below the average $65 per…