Price per Barrel: How low is too low? In light of falling crude oil prices, there is growing speculation about how low will be too low for U.S. producers. In just a few short months, prices have plummeted from $100 a barrel to around $70 today. This has left analysts and industry leaders worried about the effects this will have on the booming shale industry, including investment and drilling interests in the Bakken play. Since extracting shale oil is currently a more expensive process than conventional production methods, Bakken producers may be more vulnerable to lower crude prices. OPEC turned up the heat on Thanksgiving Day and sparked what some are calling an ‘oil war’, by announcing that it will hold steady on current production. This has garnered worldwide attention and assured that this downward trend in price will continue. (Read more: OPEC Challenges Bakken Shale Drillers ) Certainly, […]