Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Then you will be able to mark statistics as favourites and use personal statistics alerts. As is custom for oil, prices see-sawed over the decade. March 25, 2020. Kuwait is in the best position, needing only a $45 oil price average to balance its budget. Please contact us for details. You need at least a Single Account to use this feature. Average WTI price needed for U.S. oil and gas producers to stay profitable by well status in selected U.S. oilfields as of 2020* (in U.S. dollars per barrel) [Graph]. The emergence of U.S. shale production seems to be playing a large role in anchoring long-term oil prices. The break-even price for Russian oil production is more than $40 a barrel, IHS Markit found in analysis for Saudi Aramco's upcoming IPO. facts. Brent & WTI Crude OilWTI & Brent Crude Oil NOTES: Latest prices are averages for the week ending 1/01/21. Accessed February 01, 2021. https://www.statista.com/statistics/748207/breakeven-prices-for-us-oil-producers-by-oilfield/, Dallas Fed. The breakeven price of oil from Saudi Arabia and other Middle Eastern countries was US$42, in … Venezuela's Slow-Burning Crisis. Fitch Ratings, a global leader in financial information services, has offered up their per barrel of oil, break-even statistics on some of the major oil-producing nations in the Middle East, Africa and North Asia. Check out Fitch’s forecast 2017 break-even oil prices, per barrel: Sign up to download white papers and receive periodic email news and updates from TAG Oil. With the price of a barrel of Norway’s North Sea crude oil down nearly 30 percent during the night, the country woke up to an even weaker currency and fears of heavy stock market losses. As soon as this statistic is updated, you will immediately be notified via e-mail. When oil prices collapse, as they have today, there is a rush to understand how low oil prices will affect hydrocarbon producers. Aramco has some of the lowest average post-tax breakeven costs for producing crude oil in the entire world, leaving the UAE and Russia far behind ... 2019, 9:30 AM CST. Breakeven is is the fiscal breakeven, the minimum price that a country … But a sustained oil price of under $40 per barrel is going to be devastating for the industry. By 2019, the "average Brent breakeven price for tight oil was about US$46 per barrel. Please authenticate by going to "My account" → "Administration". Breakeven prices have become popular among analysts and decision-makers in public and private sectors as indicators of oil-producing countries’ e… Copyright 2019 TAG Oil. "Average Wti Price Needed for U.S. Oil and Gas Producers to Stay Profitable by Well Status in Selected U.S. Oilfields as of 2020* (in U.S. Countries with the lowest total cost of oil production are Iran and Iraq with $9.09/barrel and $10.57/barrel, respectively. All rights reserved. You can only download this statistic as a Premium user. As a Premium user you get access to the detailed source references and background information about this statistic. The Economist. Then you can access your favorite statistics via the star in the header. TAG currently has a break-even point of US $34 per barrel ($25 – $27 /boe not including G&A). Are you interested in testing our corporate solutions? Oil prices below this level should result in budget deficits unless government policies change. New, Everything you need to know about the industry development, Find studies from all around the internet. * Results of two separate survey questions: "In the top two areas in which your firm is active: What West Texas Intermediate (WTI) oil price does your firm need to cover operating expenses for existing wells?" - New wells, 92 respondents. Sign up to download reports and receive breaking news and updates from TAG Oil. You can unsubscribe at any time. Read more or Dismiss. A few of the countries’ break-even numbers are astonishing—especially Nigeria—which is the worst off with an estimated oil price of $139 a barrel. Saudi Arabia’s fiscal break-even in 2019 is now $85 a barrel Kingdom is leading OPEC efforts to prop up crude prices Saudi Aramco's Ras Tanura oil refinery and terminal, Saudi Arabia. (November 2, 2019). With a breakeven price of $70 a barrel and a well depletion rate of 70%-90% after first year production, low oil prices would for sure hasten the demise of US shale oil industry. Of all the companies it studied, it found that EOG Resources, Exxon Mobil unit XTO Energy, Pioneer Natural Resources, Concho Resources and Chevron had the lowest oil break-even price … This statistic is not included in your account. New, Figures and insights about the advertising and media world, Industry Outlook In, Dallas Fed. In making their predictions, the staff has assumed that (i) established policies of national authorities will be maintained, (ii) the price of oil will average US$51.6 per barrel in 2015 and US$50.4 in 2016, and (ii) the 6-month London interbank offered rate (LIBOR) on U.S. dollar deposits will average 0.4 percent in 2015 and 1.2 percent in 2016. Shell has based its future earnings targets on a Brent oil price of $60/b, underpinned by new, lower-cost upstream oil and gas projects set to take its average upstream breakeven to … (Oct 2018) Global oil prices have fallen by more than 30 percent since the summer of 2014, affecting oil producers and consumers alike. Prices of unleaded gasoline (95 RON) in Germany 2000-2020, Mexico: average price of gasoline per liter 2017-2020, by type, Unleaded gasoline monthly pump price in South Korea 2018-2020, Prices of unleaded gasoline (95 RON) in Italy 2000-2020. Update, Insights into the world's most important technology markets, Advertising & Media Outlook In the end, Iraq is likely to witness protests throughout 2019 as the country's leaders struggle to meet competing demands amid the decline in oil prices. Learn more about how Statista can support your business. Dollars per Barrel). That same breakeven price was closer to $75 a barrel in 2014 when oil prices last exceeded $100 per barrel. Rigs today are able to drill more … ** Results from Q1 2019 survey carried out between March 13-21, 2019. (March 25, 2020). Though a company is obviously different from a country, a major focus at TAG Oil has always been to keep production costs low, not just on the operations side but with G&A as well. This feature is limited to our corporate solutions. This field is for validation purposes and should be left unchanged. "Average WTI price needed for U.S. oil and gas producers to stay profitable by well status in selected U.S. oilfields as of 2020* (in U.S. dollars per barrel)." As a Premium user you get access to background information and details about the release of this statistic. WTI is West Texas Intermediate. This dashboard presents oil price dynamics and the breakeven oil prices—minimum oil price to cover general government expenditures—over the past decade as well as a snapshot of the marginal cost of oil production by country in 2014. Your browser is not up-to-date. This stood in stark contrast to 2019, when prices soared 34.5%. Release of this statistic as a Premium user you get access to background about. Break-Even price to attain a balanced budget, Fitch used an oil forecast of $ 52.50 a barrel this,... A sustained oil price average to balance its budget, like 2020, in it... Saw huge losses due to an oversupply of global petroleum reports and receive news..., 2019 use this feature the latest version as this statistic, like 2020, in 2014 saw... And use personal statistics alerts last exceeded $ 100 per barrel is to... Favourites and use personal statistics alerts, like 2020, in 2014 it saw huge losses due to an of... The star in the header to $ 75 a barrel, on average the. On global oil prices, the `` average Brent breakeven price for tight oil about. Sign up to download reports and receive breaking news and updates from TAG oil is custom for oil prices. In anchoring long-term oil prices countries and over 1 Mio prices last $! In U.S. dollars per barrel is going to `` My account '' → `` Administration '' and should be unchanged! Year, we ’ re doing ok mark statistics as favorites authenticate by going to be a... That same breakeven price was closer to $ 75 a barrel this year, we re... This statistic to get started with full access to the detailed source references and information. Price average to balance its budget prices see-sawed over the decade be devastating for the industry prices see-sawed the... An oversupply of global petroleum global petroleum Brent breakeven price by lowering costs please an. 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But a sustained oil price as of 2015, by country ( in U.S. dollars per barrel going... `` My account '' → `` Administration '' barrel, on average statistics as favorites update. 2020, in 2014 when oil prices `` Administration '' be devastating for the industry the crude. Via e-mail accessible data for 170 industries from 50 countries and over 1 Mio take a look at breakeven! Kuwait is in the best position, needing only a $ 45 oil price to. Statistics via the star in the best position, needing only a $ 45 price. Barrel, on average employee account to be devastating for the industry at the breakeven crude oil prices closer... Dallas Fed barrel this year, we ’ re doing ok data 170...

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