Standard Chartered Sees Higher Long-Term Oil Prices As Shale Costs Rise Oil prices are set to trend higher in the coming years, according to Standard Chartered, as the economics of U.S. shale have shifted significantly, according to OilPrice.com. While crude has hovered near $70/bbl — close to the 20-year average of $73.38 — StanChart notes that breakeven costs in the shale patch have climbed sharply. “The average breakeven price for Permian producers is now edging back toward the mid-$60s, up from the mid-$50s just two years ago,” the bank said, attributing the rise to higher costs for steel, labor, and… — Continue at ZeroHedge News : Read More
