US shale oil companies are currently under heavy pressure due to a significant drop in demand due to the pandemic.
Seventeen manufacturers have already filed for bankruptcy in 2020. This was reported on Monday, May 25, by the Financial Times newspaper.
According to the publication, the total debt of these companies is about $14 billion, and before the end of this year, the number of such companies-bankrupt may increase to 73.
“The bottom line is that a wave of bankruptcies and restructuring is coming,” the Financial Times quotes Regina Mayer, who now heads the energy and natural resources division at KPMG (USA).