I own 1% of a small oil field. The fracking cost is very high.

We are going to shut in if oil price stays around $60. I think a lot of other oil drilling companies will do similar things after six month. They have no way to survive with this kind of price. Of course, some of high throughput will not have same issue, but I can see US output can drop as much as 30% after six month. I expect see oil jump to $80-$100 by the end of 2015.