Here is another opinion on the declining price of oil. What I found interesting is the supply statistics. While it’s not surprising that supply has been rising check out the charts below to see just how much it has been growing.
First the US oil production.
Now oil production in Canada.
The most interesting chart in the post has to be this breakeven price per barrel for US shale oil plays courtesy of the Business Insider. |There are very few companies that can survive with an oil price at $60. Not a good sign for the shale industry in the US…
