Wood Mackenzie: Oil price makes half of all future projects unprofitable

The plummeting oil price places the future production under severe pressure. In a new report, consulting firm Wood Mackenzie notes that upwards of 50 percent of the future oil projects will be unprofitable at an oil price of USD 60 per barrel.

by DANIEL LOGAN

Half of all the oil production from future developments will be uneconomic with an oil price of USD 60 (Brent) per barrel, concludes consulting firm Wood Mackenzie in a new break-even analysis of future oil development projects.

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