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Saturday, November 10, 2012

Cost Of New Oil Supply

cost of oil
Research by veteran petroleum economist Chris Skrebowski, along with analysts Steven Kopits and Robert Hirsch, details the new costs: $40 - $80 a barrel for a new barrel of production capacity in some OPEC countries; $70 - $90 a barrel for the Canadian tar sands and heavy oil from Venezuela’s Orinoco belt; and $70 - $80 a barrel for deepwater oil. Various sources suggest that a price of at least $80 is needed to sustain U.S. tight oil production

Robin's comment : When Crude oil falls below $80 a barrel, rig builders like keppel and semmarine will come under pressure!
 
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