Producers of shale oil in the US began to generate positive cash flow due to rising oil prices, the Financial Times writes. Previously, they had to resort to borrowed capital. In 2017, they placed the maximum volume of bonds since 2014, when the fall in oil prices began. This April, shares of shale oil producers began to appreciate after switching to financial self-support against the background of rising oil prices above $53 per barrel. June contract for oil WTI on Monday has fallen in price by 0,5% to 68 dollars 6 cents per barrel. Companies, engaged in the exploration and production of oil in the shale fields, in 2008-2017 due to the placement of bonds attracted 293 billion dollars. Over the past 10 years, the production cost of shale oil production has significantly decreased due to the improvement of fracturing and horizontal drilling technologies.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...