Economy 52,864 Posted December 2, 2014 Share Posted December 2, 2014 http://ww2.nationalpost.com/m/wp/blog.html?b=business.financialpost.com/2014/12/01/here-are-the-breakeven-oil-prices-for-every-drilling-project-in-the-world Companies around the world particularly in North America have began to announce cancelations of projects that were intended to expand oil production as a result of the sharp drop in prices Most of the projects cancelled are projects that would require $80/barrel or more to break even. For now cheaper projects are not being cancelled There are delaying factors. Production growth wont slow right away because expantion projects that were already started when prices began dropping were not going to be cancelled if they were already started The market appears to be setting the stage to self-correct and stabalize prices somewhat higher some time into the future as production will slow. It could potentially take several months for the rebound in prices however Link to post Share on other sites More sharing options...
.thumb.jpg.99c40bc2a10ded8236a48b4fe15c6be8.jpg)
Featured Posts
Archived
This topic is now archived and is closed to further replies.