When the last price drop wiped the floor with oil producers there were shale drillers that claimed they can live with USD 35. Lets assume that this was overblown, and lets put USD 10-15 on top in order to see something more realistic. Lets also assume that the shale drillers have not slept and learned a trick or two since the last major drop making them more efficient than ever. And no look at OPEC+ producers which seem to be unable to make ends meet with USD 50. Thats where things will head ever more.
Oil producers again boosted U.S. drilling this week despite the biggest quarterly drop in oil prices since 2014.