Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
is that OPEC+ is about to go into overdrive pumping more oil after pulling back for a year to keep the price up....
https://www.democraticunderground.com/10143469225
Meaning that will drop the price/bbl and will impact the U.S. shale oil drillers, as the current prices are already close to or below their "breakeven" figures for new wells at the moment. There have already been rumblings over the past couple months in the U.S. oil sector about not being too interested in any immediate new drilling (as they won't make anything back to offset the cost to do it - spot WTI closed at ~$61/bbl this past Friday).
(from here - https://www.hartenergy.com/exclusives/us-shale-basins-boast-54bbl-average-breakeven-price-204563)
Edit history
Please sign in to view edit histories.
Recommendations
1 members have recommended this reply (displayed in chronological order):
5 replies
= new reply since forum marked as read
= new reply since forum marked as read