WTI is back above $50 a barrel, and things are looking up for the battered U.S. oil industry. Yet, although the worst may be behind drillers, they still face a lot of difficulties, including the danger of more loan defaults. Fitch Ratings warned about the continued threat of defaults in a recent update, noting the oil and gas industry would this year again be the one with the most defaults, according to a report by the Financial Times. In light of the troubles plaguing other industries hit hard by the pandemic, such as air travel and real estate, this is saying something. Last year, several dozen oil and gas operators filed for bankruptcy with a cumulative debt of $28 billion, which far outstripped the cumulative debt of any other industry. This year, according to Fitch, the amount of debt in default will be lower, estimated at $15-18 billion, but […]