A medium-term oil price of USD 50-60/barrel seems likely, leaving US shale producers to fall on hard times if federal interest rates are increased, speakers said at the Economist Energy Summit this week in London. An uptick in crude prices will not occur until the market clearly understands how severely companies will cut investment across the sector, Chatham House fellow Paul Stevens said, adding that once US federal interest rates rise, US shale drillers will face financial difficulties.
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