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re: Oil Wars: Why OPEC Will Win
Posted on 12/15/14 at 8:33 am to Thib-a-doe Tiger
Posted on 12/15/14 at 8:33 am to Thib-a-doe Tiger
Saudi Arabias oil fields are massive, shallow and produce high rate wells. Their lifting costs are estimated to be somewhere in the $5-15 range.
1
Posted on 12/15/14 at 8:41 am to lsugradman
Yeah, but that's an estimate. CNBC was reporting the Saudis said they need oil at 60 or above long term, while there are many wells that have been drilled but not tapped here that could be brought online for $5
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