Oil price seen falling to $60 if OPEC does not cut output

[Harvest Time]

At current price
1) deep sea oil production will be not profitable
2) Some shale oil production will not be profitable
(est cost range from US$25 to US$90)


http://www.ft.com/intl/cms/s/0/0a25ecf4-...z3KK7vIgo1

http://www.bloomberg.com/news/2014-10-07...llers.html

http://www.bloomberg.com/news/2014-10-07...llers.html

Land base oil and shallow water oil are still profitable
Shallow water oil cost around US$20 for South East Asia
http://www.tradewindsnews.com/weekly/347...AHTS-units