Home U.S. shale's message for OPEC: above $40, we are coming back
 

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U.S. shale's message for OPEC: above $40, we are coming back

2016-02-29 17:22:08| Electronics - Topix.net

Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less in deciding whether to crank up output after the worst oil price crash in a generation. Their latest comments highlight the industry's remarkable resilience, but also serve as a warning to rivals and traders: a retreat in U.S. oil production that would help ease global oversupply and let prices recover may prove shorter than some may have expected.

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Category:Electronics and Electrical

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