RE:After reading thisOMG this was written on $60 oil.On the chart it now shows that 50% of global oil production is now uneconomic at todays $45 price.
WE ARE NOT IN AN OIL GLUT WE ARE IN AN OIL SUPPLY CRISIS.the current oil glut myth was the screaming warning of the coming crisis.No wonder the Opec gen sec warns of $200 oil.
COS has sunk costs years ago and can produce at break even of $50.A sharp price rise is in store for 2016 oil.COS shares are a steal now.