CRUDE OIL COST OF PRODUCTION

COST OF PRODUCTION PER BARREL OF OIL (Country Wise).

• United Kingdom,UK —– $52.50
  • Brazil ——————     $48.80
  • Canada — ————     $41.00
  • United States,US ——- $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
  • Iraq —————–         $10.70
  • Saudi Arabia ——          $9.90     2nd cheapest.
  • Kuwait —————        $8.50    The cheapest.

NOTE: These findings are from Rystad Energy’s UCube database, which has information from roughly 65,000 oil and gas fields around the globe.