Saudi Arabia is likely to continue its policy of maintaining high
crude production, which keeps
oil prices from rebounding until high -
cost producers
like U.S. shale frackers curtail output, Kilduff said.
«The goal of Sapphire is to produce a
crude product that can be introduced into the existing
crude stream for production
costs that are similar to other new opportunities
like oil shales,
oil sands, and even deep, deep water drilling,» Jason Pyle, Sapphire's chief executive said in an interview.