Frac Sand '16: Oil prices unlikely to be above $50 until 2018
Published: Tuesday, 13 September 2016
A number of constraints, such as increases in oil output as new projects come online in 2017 and an anticipated mild winter, are likely to delay sustained price increases in oil and gas. This in turn is likely to keep drilling activity low and weaken demand for oilfield minerals like frac sand, barite and bentonite.
Oil prices are
not anticipated to rise above $50/barrel (bbl) on a sustained
basis until 2018, delegates at
IM’s 4th Frac Sand
conference in Minneapolis, US were told 12 September.
The critical element for increased drilling activity is for
prices to recover, Michael Schaal, principal at...