Deep drilling cannot be profitable at these levels. Most frackers in United States cannot be frackle at these levels. The oil stands in Canada are not profitable at these levels. Venezuela is not able to produce much at these levels. So if nothing happened, production will continue to go down and that will cause prices to continue to go up.
Wednesday, June 15, 2016
Most of the Fracking in USA, Oil Sands in Canada not profitable at current oil prices
The frackers in America are going out of business and production is coming down. It will be coming down much more dramatically over the course of this year.
Deep drilling cannot be profitable at these levels. Most frackers in United States cannot be frackle at these levels. The oil stands in Canada are not profitable at these levels. Venezuela is not able to produce much at these levels. So if nothing happened, production will continue to go down and that will cause prices to continue to go up.
They[OPEC] are ruining the people in the us who are in the fracking business. So they are doing what they said they wanted to do.
Deep drilling cannot be profitable at these levels. Most frackers in United States cannot be frackle at these levels. The oil stands in Canada are not profitable at these levels. Venezuela is not able to produce much at these levels. So if nothing happened, production will continue to go down and that will cause prices to continue to go up.
