Wednesday's Chapter 11 chapter submitting for Colorado-based Whiting Petroleum is a grim omen of issues to come back, consultants say, as oil costs face historic collapse amid the coronavirus disaster and the Saudi-Russia oil worth warfare.  

The corporate is the primary U.S. shale producer to go below because the begin of the yr, when oil costs started to fall.

"I do not need to be a doomsayer, however I feel Whiting is simply merely the primary domino that is going to fall," John Driscoll, chief strategist at JTD Power Providers, informed CNBC's Capital Connection on Thursday. "It is a pretty substantial firm, however the smaller producers, if they do not have the hedging in place, it is going to be a troublesome route Chapter 11 is perhaps the one technique to go." 

The shale trade, chargeable for America's vault to turn out to be the world's...