Greenspan: Signs of Slowing U.S. Oil Production

The video discusses the slowdown in weekly data, the impact of the shale boom on oil prices, and the subsequent cost-cutting measures in the oil industry. It highlights how the high margins during the shale boom led to a lack of cost-cutting efforts, which changed when oil prices dropped. The current dynamics of the oil market are explored, with a focus on the reduced marginal cost of crude oil and potential shutdowns.

What was the significance of the price being $100 a barrel during the shale boom?

What factors contributed to the lack of effort in cutting costs during the shale boom?

In what way did the market react when the price of oil came down?

How did the price of crude oil affect the lifting cost?

What does the term 'marginal price of crude oil' refer to in the context of this discussion?