The banking crisis is adding to mounting pessimism among U.S. shale producers about the direction of oil prices as the first quarter draws to a close.
After a stellar 2022 that saw the sector generate record cash flow and reward shareholders with huge returns, persistent cost inflation, oil-field labor shortages, low natural gas prices, and rising fears of a recession are casting a pall over the shale patch. The banking crisis is the cherry on top, sparking concerns about capital availability.
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