Bloomberg reports that eight of the top explorers focused on the booming US shale region have lost US$15.6 billion in combined market value in about two weeks, as shipping constraints devour the profit they can fetch for a barrel of crude.
According to a report form Bloomberg, US$1 billion a day is the price tag for a Permian Basin pipeline crunch that’s increasingly affecting investors as much as it is West Texas oil drillers.
Bloomberg reports that eight of the top explorers focused on the booming US shale region have lost US$15.6 billion in combined market value in about two weeks, as shipping constraints devour the profit they can fetch for a barrel of crude.
