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| Re: Oil at $61/bbl - Top THREE Reasons Saudis are keeping price down (1246448) | |||
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Re: Oil at $61/bbl - Top THREE Reasons Saudis are keeping price down |
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Posted by WillD on Thu Dec 11 09:09:32 2014, in response to Re: Oil at $61/bbl - Top THREE Reasons Saudis are keeping price down, posted by ClearAspect on Wed Dec 10 16:42:11 2014. the shale oil gas in Canada won't be either.But it will. It has to. At something like $60/bbl the oil sands are barely turning a profit given how much of the oil is consumed to supply the energy to process and refine the tar sands to the point where something like crude oil can be extracted. If the Saudis drive prices below that point then what's the point of producing oil by those expensive means? They're not going to sell their oil for $65/bbl when the world price is hovering around $55/bbl. |
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