Texas Oil Economy Struggling

By: Matthew Watson on 12:08:00 PM

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A 30% reduction in oil consumption has been a tremendous shock to the Texas oil market. Combined with the supply fight between OPEC members Russia and Saudi Arabia, oil prices around $20/barrel do not allow Texas shale suppliers to meet costs and keep employees on the payroll.

Read more from Reuters News here  https://www.reuters.com/article/us-global-oil-shale-bust-insight/oil-in-the-age-of-coronavirus-a-u-s-shale-bust-like-no-other-idUSKCN21X0HC