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The U.S. shale-oil industry may collapse, new report says, after Goldman warns crude is set for a fall


The U.S. shale-oil industry may collapse due to the sharp fall in oil prices because of the coronavirus pandemic, a new influential report predicts.

The demand for and price of oil tumbled due to the economic slowdown and have since begun to recover, but Australian think tank the Institute for Economics and Peace warns that a low price will affect political regimes in the Middle East, especially in Saudi Arabia, Iraq and Iran.

The impact of coronavirus may ‘result in the collapse of the shale oil industry in the U.S., unless oil prices return to their prior levels.’


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