The average price of a barrel of oil at $53 will allow the 50 largest public oil companies to cease to suffer losses, according to the analysis of the consulting company Wood Mackenzie. It is reported Bloomberg.
That the price of oil above $50 will give oil companies an incentive to increase production, but will also provide the needed inflow of funds, said the oil company BP and Pioneer Natural Resources and oilfield services company Nabors Industries.
According to BP Finance Director Brian Gilvary acceptable price per barrel in 2017 for his company is $50-55. As told to Bloomberg, CEO of one of the largest companies for the extraction of shale oil Continental Resources Jack stark, the rise of oil prices by $5 starting from $37 per barrel for the company means increased revenue by $200 million.
Assessment Nabors, a number of large oil companies plan to increase drilling activity, in the event that the price per barrel will be “comfortably above” $50.
Earlier this week, analysts of the British trading companies IG said that as we approach the prices of oil to $45 per barrel and above the production of shale oil in the US will again become profitable, which in turn will significantly increase the supply of raw materials.
But while the big oil companies (Exxon, Royal Dutch Shell) are prepared to report the biggest quarterly fall in revenue in the first quarter of 2016. BP April 26, the first of the majors have reported quarterly losses of $600 million.
Wednesday, April 27, the price of WTI crude oil on the NYMEX exchange to the 12:10 MSK was $44,88 per barrel, the price of a barrel of Brent on ICE Futures — $46,75.