The current crude price of more than $65 per barrel is seen as sufficient for commercial exploration activity, according to an annual survey of exploration personnel and related service industry workers carried out by consultancy Wood Mackenzie, writes Amanda Battersby.
Around 22% of the survey respondents believe that a Brent price of between $55 and $60 per barrel is required for overall exploration break-even, while a further 18% are comfortable in the $45 to $50 per barrel range.
