Analysts have warned that falling oil costs will result in a wave of consolidation or bankruptcies within the U.S. vitality sector, and the Road obtained its first style of what may very well be to return when U.S. shale producer Whiting Petroleum filed for chapter on Wednesday.

"The oil patch is falling aside ... That is the opposite bomb that is dropping," CNBC's Jim Cramer stated Wednesday on "Squawk on the Road." "I believe they're the primary of many," he stated in reference to Whiting's chapter submitting.

Oil producers are struggling to breakeven as crude costs tumble. The coronavirus outbreak and subsequent journey slowdown has led to delicate demand, simply as a value warfare between OPEC+ nations Saudi Arabia and Russia broke out.

U.S. West Texas Intermediate crude at present trades round $20.36 per barrel, after dropping greater than half its worth within the month of March. The contract is coming off its worst month and quarter on document. Depressed costs have hit the business exhausting  the S&P 500 vitality sector has...