The Traderszone Network

Published in TZ Latest News 1 May, 2017 by The TZ Newswire Staff

Shale cost is rising

Oil rig counts are rising but so are costs. Crude oil prices are modestly lower on weak Chinese PMI data and a rising rig count but the reality of the limitation of shale may start to become painfully obvious. While the number of active oil rigs increased for the 15th week in a row by 9 rigs, the cost of those wells increased by 7% between November and March according to the Bureau of Labor Statistics.