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The breakeven price for North American shale oil was US$68 a barrel in 2015, making it one of the most expensive to produce. By 2019, the "average Brent breakeven price for tight oil was about US$46 per barrel. The breakeven price of oil from Saudi Arabia and other Middle Eastern countries was US$42, in comparison. [141]
Real and Nominal Oil Prices, 1980-2008. The various attempts to develop oil shale deposits have succeeded only when the cost of shale-oil production in a given region comes in below the price of crude oil or its other substitutes (break-even price).
The term was defined on May 8, 2015 by Olivier Jakob, the director of Petromatrix, a Swiss-based consultancy company that publishes a daily note on the oil markets. Petromatrix described the shale band as a price range between $45 and $65 per barrel for West Texas Intermediate (WTI) crude oil. Below $45 per barrel, production of US shale oil ...
Oil prices are headed lower next year. ... "It would take something on the order of the Russian invasion of Ukraine or a wider mid-Eastern war to really send prices back up to the 2022 or 2023 ...
Nearly 60% of US shale execs said they plan to increase spending ... even as oil prices have sagged. ... the US produced more oil than any other country in history for the sixth year in a row in 2023.
A U.S. regulator's censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners ...
Oil shale formation takes place in a number of depositional settings and has considerable compositional variation. Oil shales can be classified by their composition (carbonate minerals such as calcite or detrital minerals such as quartz and clays) or by their depositional environment (large lakes, shallow marine, and lagoon/small lake settings).
The North Dakota Department of Natural Resources estimated overall break-even to be just below US$40 per barrel. An analyst for Wood Mackenzie said that the overall break-even price was US$62/barrel, but in high-productivity areas such as the Sanish Field and the Parshall Oil Field, the break-even price was US$38–US$40 per barrel. [15]