Costs to drill new wells are up as much as 30% in under 3 years and many oil service companies will be forced to…
Jason Burack of Wall St for Main St interviewed returning guest, oil hedge fund manager Josh Young.
During this 40+ minute interview, Jason asks Josh about the OPEC production cuts and if OPEC will actually cut production more.
Josh thinks that OPEC and OPEC+ producers are running at full capacity without investing in capex enough and will have a very difficult time maintaining and also growing new oil supply.
Also, costs to drill new oil and natural gas wells are up as much as 30% in under 3 years and many oil service companies will be forced to start raising prices soon.
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