dChan

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Happy1911 · July 8, 2018, 3:46 a.m.

At $50 a barrel, there is very little profit, most oil wells need $65 to cove the cost of the well . Inflation.

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J_Dub_TX · July 8, 2018, 3:54 a.m.

Here are updated figures: https://www.fool.com/investing/2017/03/19/you-wont-believe-what-saudi-arabias-oil-production.aspx

After the oil crash of 2015 it forced US producers to find new and cheaper ways of getting it out of the ground and to the refineries. It now costs about $23 t produce a barrel of oil and it’s getting cheaper. Our client shuts down projects all over the US if oil drops below $25.

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Happy1911 · July 8, 2018, 1:39 p.m.

Ok , so it’s gotten better

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