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Oil States International CEO Cindy Taylor. Source: Tudor Pickering
The U.S. economy is faltering due to the negative effects of the coronavirus. Less talked about is the sharp decline in oil prices. Cuts to oil supply have buoyed oil prices for the past few years. Saudi Arabia and Russia recently increased supply. Brent oil is now below $35, making it difficult for several shale oil plays to make money. It has also punished stocks of oil-related names like Oil States International (OIS). The stock is down over 85% Y/Y and trades in the