Global shale production has taken a drastic hit in 2020, where shale oil is expected to drop by 11.7% year-on-year and shale gas production may see a 4.5% fall, according to projections by data and analytics company GlobalData,.
Global Data said that market demand for oil and gas, which plummeted globally from March 2020 as the COVID-19 pandemic took hold, would continue to weigh down oil prices unless an effective vaccine was made available.
USA hit hard
GlobalData’s latest...