Industrial Insight

oil prices and production | January 12, 2015

http://www.cnbc.com/id/102326971

When, and where, oil is too cheap to be profitable

John W. Schoen

"At $45 a barrel, only 400,000 barrels per day, or just 0.4 percent of global supply, are unprofitable. Half of that is from conventional onshore production in the U.S. And at $40 a barrel, just 1.5 million barrels per day represents unprofitable production, or just 1.6 percent of global supply. Most of that production comes from several oil sands projects in Canada."

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