Study Shows Fear Of Oil Industry Collapse Is Overblown

Those worried that rock-bottom crude prices might collapse the oil industry have little to fear, according to a report by research group Wood Mackenzie.

Citing analysis of production costs on 10,000 oil fields, Wood Mac said it believes only 4 percent of the global oil supply is unprofitable at oil prices below $35 per barrel, a finding which seemingly runs counter to the dire warnings issued by analysts.

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