Even while crude oil prices have hit record lows, U.S. shale producers have continued to pump out oil. Now, they’re starting to worry about how much longer the price crash will last, and what the future holds for shale production.

According to The Wall Street Journal, companies that were hoping to avoid another round of layoffs and salary cuts may be forced to since the industry has yet to pick up. In the past year, an estimated 250,000 individuals employed by the oil industry have lost their jobs worldwide.

Oil prices for next year are predicted to sit at about $50 per barrel, according to a report from the U.S. Energy Department.

Via: The Wall Street Journal > Low Crude Prices Catch Up With the U.S. Oil Patch