33% Of North Sea Oil Is Now Too Expensive To Extract

33% Of North Sea Oil Is Now Too Expensive To Extract

OilPrice.com

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The oil price collapse will result in one-third of the North Sea oil left untouched because it will be uneconomical to produce, a new study from the University of Aberdeen showed on Wednesday. According to the study led by Economist Professor Alex Kemp and Linda Stephen from the University of Aberdeen, even if Brent Crude prices were to trade at $45 a barrel, as much as 28 percent of the oil left in the North Sea would not be economical to extract. At $25 a barrel oil, a total of 35 percent of available oil in the North Sea may not…

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