| Many industry experts predicted that US shale oil companies would quickly go bankrupt when oil prices started to decline in the last quarter of 2014. Jobs would be forever lost, financing would dry up and OPEC would remain the world’s oil cartel.
Instead, merger activity has been relatively muted, companies are driving down costs, and drilling activity appears to be picking up again in the second quarter of 2015 as the oil market finds its equilibrium. All this means that US shale is likely to remain a permanent feature of the global energy landscape, with the US, not only OPEC, as the new “swing producer” in the global oil market...............................................Full Article: Source
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