Bakken Shale Oil Is Profitable at Over $42 a Barrel

The video discusses the impact of falling oil prices on OPEC and global oil supply dynamics. It highlights OPEC's budget challenges and the rising oil supply from non-OPEC countries, particularly the US. The resilience of US shale production is examined, noting that companies like Continental Resources continue to profit despite low prices. Cost-cutting measures have made US shale production more efficient, with most operations remaining profitable even at lower price points.

What is the main reason for the financial difficulties faced by OPEC members?

• Rising production costs

• A significant drop in oil prices

• Increased demand for oil

• Decreased global oil supply

How has the global oil supply changed in recent times?

• OPEC's share has increased

• Total world supply has decreased

• Non-OPEC countries have increased their supply

• The United States has reduced its oil production

What strategy is being employed by U.S. shale producers to remain profitable?

• Expanding into new markets

• Increasing oil prices

• Reducing production

• Cutting costs and improving efficiency

At what price can most drilling in the Bakken formation remain profitable?

• $70 a barrel

• $80 a barrel

• $42 a barrel

• $50 a barrel

What is the estimated time before lower oil prices affect U.S. shale production growth?

• 2 years

• 3 months

• 6 months

• 1 year