US Oil Executives Anonymously Admit That Real Oil Breakeven Price Is $50 Or Higher NOT $35!

Oilprice.com journalist Nick Cunningham found some very interesting information collected by the Dallas Federal Reserve Bank. In a recent anonymous survey of US oil industry executives, the survey found that 41 percent of all firms expect to cut spending in 2020, while 34 percent expect to increase capex. The vast majority of companies are basing their 2020 budgets off of a WTI price between $53 and $56 per barrel.