Oil at $30 may be enough to revive shale activity, say drillers

May 6, 2020/in /by Rudolf Huber

So, USD 30 oil may be enough to infuse the shale sector with life again. But the entirety of OPEC+ would still be bleeding cash at those prices. The big conventional oil producers are between a rock and a hard place right now. They urgently need higher prices in order to stop the bleeding but then shale will eat their lunch. Game over.

A pair of prominent shale producers said all they need is oil around $30 a barrel to consider bringing back curtailed crude output and fracing new wells.

www.worldoil.com

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