The U.S. oil industry faces a bumpy road to recovery from the steepest slump in oil demand in history. Oil demand in the United States and elsewhere is still trailing below last year’s levels, while a growing number of indebted shale producers struggle to refinance debts at these low oil prices and file for bankruptcy protection to restructure debt loads. Oil prices may remain lower for longer with global oil demand unlikely to return to pre-crisis levels by the end of 2021, piling further pressure on the U.S. shale patch which, executives say, will need WTI Crude prices above $46 a barrel to see a substantial increase in completions of drilled but uncompleted wells (DUCs). On top of the immediate financial concerns of many producers about profitability and debt levels, the U.S. oil industry also faces a shift in markets’ perception about the sector with increased investor calls for […]