crude oil price collapse will bankrupt U.S. shale oil producer stocks

https://www.ccn.com/collapsing-crude-prices-will-bankrupt-u-s-shale-oil-stocks/

The decision to boost oil production by Russia and Saudi Arabia could prove a masterstroke. When U.S. oil and gas stocks start going bankrupt, these two energy-producing rivals stand to gain the most. | Source: AP Photo/Richard Drew

U.S. shale oil stocks are going to be walloped due to the crude oil price war that kicked off between Russia and Saudi.

The breakeven price for the U.S. shale industry lies in the $48 to $54 per barrel range.
The industry is heavily indebted, and companies will not be able to service the debt with the lower oil price.

Global stock markets followed crude oil and took a nosedive today as Saudi Arabia launched a devastating price war against Russia.

The ugly truth is that both oil-rich countries have enough resources to survive the plunging crude prices for the foreseeable future.

The real loser from the fallout of this battle is going to be the U.S. shale industry.