Hydraulic Fracturing does not raise the cost to produce oil.
It lowers the cost per barrel of oil produced or it would not be done. It raises the cost per well, but the well produces more oil lowering the cost per barrel.
That said, this article is about a different technology.
Hydraulic Fracturing raises the cost.... not to produce. But it raises the cost on the well. I changes the economics on the well. It means if you Hydraulic Frac a well, either oil or natural gas, you have to have a higher sales price for the oil or gas . Also, horizontal wells that are fractured in the US... shale drilling.... they typically have a much shorter life span. It is not that there is more oil there when you frac it.... it is just that you can drill and recover oil where we used to couldn’t. But the process is more expensive than a traditional downhole well.
I understand its not hydraulic fracturing over there. That new technology will add cost to the middle east oil. Instead of just downhole, perf the pay zone and let it flow oil, they will have significant additional drilling cost. This will drive the economics on the well and make the oil from our shale drilling more competitive from a pricing perspective.