cost effective oil production line price

                                               
                                               
                                               
                                               
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  • How much does it cost to produce one barrel of oil?
  • This statistic outlines the average cost to produce one barrel of oil in leading oil producing countries worldwide in 2015, by country and by expenditure. In that year, Kuwait had the lowest production costs per barrel of oil, at a total cost of 8.5 U.S. dollars per barrel of oil.
  • How much does oil cost in 2025?
  • Previously, in 2014, we had estimated that the required oil price for producing 100 million barrels per day in 2025 was close to $90 per barrel, an estimate which we then revised in 2018 to around $55 per barrel. The updated curve also shows another key trend. From 2014 to 2018, the cost of supply curve moved to the right.
  • What is the average breakeven price for oil?
  • In 2018, we estimated an average breakeven price of $47 per barrel and a potential supply of 22 million bpd. After 2018, the breakeven price for tight oil has continued to fall, reaching a current average of $44 per barrel. However, the potential of tight oil production has dropped from our 2018 estimate.
  • How much does oil extraction cost?
  • We assume a linear increase between minimum and maximum extraction costs (given in constant 2008USD) from beginning to end of extraction for each individual resource type or region. Thus, for example, oil sands, with a total resource of 1000 Gb, are estimated to have extraction costs ranging from $35/barrel to $65/barrel ( IEA, 2008 ).