Hope for producers as oil clears $30 a barrel

Published May 19, 2020 12:00am ET



The oil price crash got so bad that Jim Wilkes, president of a small, private Texas shale producer, felt relieved Monday as prices surpassed $30 per barrel for the first time since mid-March.

“I am feeling a little better now that the price is up over $30 per barrel. That’s pretty nice compared to where we had been,” Wilkes told the Washington Examiner, remembering when U.S. benchmark oil prices briefly dropped below zero last month after trading at around $60 per barrel at the start of 2020.

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