Today’s Oil Prices Aren’t Survivable For US Producers

By Julianne Geiger – OilPrice.com

Oil continued its dive into Friday—Brent dropped below $66, WTI scraped $62—and if you’re thinking, hey, haven’t seen those levels since 2021, you’re not wrong.

Today’s WTI prices are not sustainable for some US producers.

A perfect storm began to brew late Wednesday. First came President Trump’s broadside tariff blitz—blanket duties slapped on all U.S. trading partners, sparking fears of a global trade war. Yes, energy was exempt from the tariffs. Still, investors didn’t need much convincing. Stocks plunged on Thursday, recession talk started buzzing, and oil got hammered in the crossfire. Suddenly, the demand side of the oil equation is looking very shaky.