The 2020 drastic oil price drop, induced by the ever-frightening coronavirus and the Saudi-Russian spat, has ravaged business interests all across the world. US oil producers are facing a new reality – instead of a seemingly watertight growth trajectory, 2020 will most probably witness a decline in annual oil output by some 0.5mbpd, to the level of 11.76mbpd if one is to believe the last EIA forecast. Small and medium-sized US producers are bracing for a series of bankruptcies, the ones with more robust political connections are trying to…
