Breakeven for Shale Oil is $70/Barrel Now; Report Says Going to $95

A new report from big energy data analytics firm Enverus finds that the average breakeven price for new shale wells in the United States currently sits at $70 per barrel. That's a problem, because the sale price for a barrel of West Texas Intermediate (WTI) crude has been firmly in the $60s for months. U.S. shale drillers can't drill new wells if they lose money. Consequently, they're beginning to lay down the rigs and stop new drilling. But here's the even more troubling part of the report: Enverus predicts the breakeven price will rise to around $95 per barrel within ten years.

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