United Kingdom
$52.50
Brazil
$48.80
Canada
$41.00
United States
$36.20
Norway
$36.10
Angola
$35.40
Colombia
$35.30
Nigeria
$31.60
China
$29.90
Mexico
$29.10
Kazakhstan
$27.80
Libya
$23.80
Venezuela
$23.50
Algeria
$20.40
Russia
$17.20
Iran
$12.60
UAE
$12.30
Iraq
$10.70
Saudi Arabia
$9.90
Kuwait
$8.50
Source: UCube by Rystad Energy; Interactive published Nov. 23, 2015
Stilgar Wilcox says:US cost per barrel at 36.20 is higher than today’s WTI price of 35.69 after a minus 1.66 due to the .25 interest rate rise that increased value of the USD against other currencies.
aliasees says:Nice information Thank you. The real cost is much higher once the dues are paid. In Libya for instance if the regional groups dont get their cut then they start misbehaving which stops oil flow. Everyone gets real upset if they dont get their slice of the pie. The general consensus is If I dont get my pie nobody does. At these prices the slices of pie are quite thin to nonexistent so I see MuaDib stopping the flow of spice much to the dismay of all pie eaters, myself included.
Fast Eddy says:Steven Kopits from Douglas-Westwood said the productivity of new capital spending has fallen by a factor of five since 2000. “The vast majority of public oil and gas companies require oil prices of over $100 to achieve positive free cash flow under current capex and dividend programmes.Nearly half of the industry needs more than $120,” he said
- Governments depend on oil taxes to fund their governments. Taxes on oil are high everywhere. I am not sure what else has been left out–for example, dividend payments to stockholders and interest payments to bondholders, for example. Probably a lot of other things. The whole system has to operate. At this point, the US government (and state governments) have not suddenly removed all of the taxes on oil. Iraq needs the taxes on oil in order to fund its infrastructure. But the difference between direct costs and total costs means that even if prices stay very low, companies will continue to keep pumping.
