Shale Oil production cost

Above is the production cost of manufacturer of shale oil. By pull down crude oil price to USD57, the market leave 4 more producers to survive in the market.

If the crude oil price keep remain at low price. The shale oil production will shrink substantially and it is what the OPEC like to see it.

For my point of view, OPEC will keep on pressing down the crude oil price and run for at least one, in order to demolish the market of shale oil.

Hence for those heavy oil consume industry, it is the time for them.