Cost of Oil Production by Country

The oil price has fallen by more than 30% since Summer 2014. This affected everyone from producers to consumers. The visualization represents Oil Price Dynamics,
Breakeven Oil Price which shows oil prices needed to meet general government expenditure and Marginal Cost of Oil Production which shows the change in total cost of
producing one additional barrel of oil.World oil price at $55-$60 / barrel exceeds the cost of Russian Arctic oil production, Europe and Brazil biofuels production, shale and
tight oil production in US and Canada and offshore oil extraction in Brazil.State budgets of oil-producing countries will suffer from oil price decrease if the market price falls
below breakeven price. In Dec. 2014 world oil prices fell lower than necessary for almost all oil exporters in order to balance their government expenditures. The data comes
from IMF, Deutsche Bank, Citi Research and Reuters Oil Prices Coal Prices Natural Gas Prices Commodity Prices Forecast BP Energy Outlook
2030 Gold Silver Copper Aluminium Nickel Zinc G20 Economic Forecast: GDP growth, Inflation, Unemployment, Government Debt, Current Account Balance

Crude oil price

(USD/bbl)

140

120

100

80

60

40

20
2008 Jan 2009 Mar 2010 May 2011 Jul 2012 Sep 2013 Nov 2015 Jan 2016 Mar 2017
May
Crude oil, average Crude oil, Brent Crude oil, Dubai Crude oil, WTI

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Created by Denis Chernyshev with knoema.com

View source's information View source's information

Created by Denis Chernyshev with knoema.com