OPERATIONS

Production untroubled by low oil price

THE turf war for market share between the world's biggest oil producing nations, which has driven the cost per barrel to around $US30, appears to have completely failed at knocking higher cost oil out of the market, according to the latest research from Wood Mackenzie.

Haydn Black

Wood Mac said that all of the global oversupply and then some - in all 3.4 million barrels of oil per day - is losing money at $US35/bbl Brent, but the number of projects that have ceased production is...

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