| When prices of any commodity are low the producers of that commodity typically cut back on production and innovation costs. In the case of crude oil the producers will tend to limit investments in exploration and production from more expensive sources of crude oil such as deep water deposits, shale and tar sands.
"There is an old saying in commodities that low prices cure low prices and crude oil is currently at a multi-year low". When prices of any commodity are low the producers of that commodity typically cut back on production and innovation costs. In the case of crude oil the producers will tend to limit investments in exploration and production from more expensive sources of crude oil such as deep water deposits, shale and tar sands..... Full Press Release: Source
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