Headline : "$30 oil not good enough for shale" NO KIDDING.

[BLA + 1,666]

Some can never pass up an opportunity to dump on shale. 

Edited May 29, 2020 by BLA

[Keith boyd + 178]

$30 isnt good enough for oil sands either. It's about $20 to $30 to get it out of the ground, then there are upgrading or diluting costs, and transport costs. And the petulant price discount that plagues WCS. 

$45 to $50 is also  where oil sands can produce sustainably. That is where the price will ultimately go. If it doesnt quickly then production will continue to decline until it does. 

As for the WCS price discount. Strange that it is non existent recently. Its trading for $30 as well. Could it be that the price discount on canadian oil was indeed pipeline capacity problems all along? The pipelines arent over full any more with 1 million barrels of canadian offline. And $30 is pretty close to what they are used to getting anyway. Not unusual in the past WTI trading at $50 and WCS trading at $35. For a short time before canadian production cuts last year WCS was trading at $10 when WTI was over $50. They have been dealing with over supply issues for a while.