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Don’t Underestimate The Resilience Of U.S. Shale

One of the biggest oil traders in the world, Mercuria Energy Group, sees U.S. shale as very resilient and refusing to shut production despite low crude prices. “In the United States, we are buying at levels close to zero but because of various pipeline, bank commitments they continue to sell. They keep on going because they hope when demand is back, they can come back to life. So shale is very resilient,” Mercuria’s chief executive officer Marco Dunand told Reuters in an interview published on Friday. Last month’s historic…
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