EIA Releases Study Regarding Breakeven Crude Oil Prices

By Alex Mills   June 18, 2020 Just about everybody knows that crude oil produced in the U.S. from extremely tight formations, called shale, is just about the most expensive worldwide today because of the high technology and deep horizontal drilling. It also is a very known fact that crude oil produced in other parts of the world, like Saudi Arabia, are the low-cost producers because their crude oil comes from very porous rocks in much greater quantity. Some have alleged that the low-cost producing countries have tried to run out the high-cost producers in recent months by ramping up production during an already oversupplied economy to drive down prices and bankrupt the high-cost producers. The geology and economic ramifications are complicated pitting country against country and government-owned oil companies against privately owned companies in the U.S. The Energy Information Administration (EIA) at the U.S. Department of Energy recently shed some light on the complicated issues by releasing a study regarding the breakeven crude prices of various countries.....  
Please click here to subscribe or click here to log in to read more of this, along with dozens of Texas energy news stories each week, including exclusives, analysis, opinion and the latest in energy worldwide.