Coming soon
Meet Yodatai! The world’s first Digital Data Assistant. Learn more and get your early invite now!
Go
An error occured. Details Hide
You have unsaved pages. Restore Cancel

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 IMFDeutsche BankCiti 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 ForecastGDP growthInflationUnemploymentGovernment DebtCurrent Account Balance

Related Data Insights

Crude Oil Price Forecast: Long Term 2017 to 2030 | Data and Charts

Oil prices grew by 1.1 percent in September modestly rebounding from a 7 percent drop in July. Since January, when the price of Brent crude reached a 12-year low, oil prices have rebounded by 50 percent and nearly reached last year's average of $46.99 per barrel. Barring any market surprises, a further recovery of oil prices hinges on a reduction of oil production by OPEC member states in the fourth quarter. Fluctuations in global crude oil prices have always been the focus of the economic and financial news. The higher crude oil prices rise, the more positive is the economic outlook for petroleum exporters. In contrast, countries dependent...

Cost of producing a barrel of crude oil by country

Slump of oil prices does not slow oil production immediately as it does with investment according to historical evidence. On the contrary, it affects future production through decreased investment in exploration and development of new fields. However, in the current conditions when oil price hovered above break-even price (price at which it becomes worthwhile to extract) for several years the response of production to price decrease may come more quickly. Especially, it concerns countries which experience high operating costs of oil production, namely United Kingdom, Brazil, Canada, Australia. In these countries oil price slump will affect...

172nd (Ordinary) OPEC Meeting

AgendaAddressing plummeting oil prices. It's no secret: the cost of lower oil prices has weighed us down. Our economies have struggled, and spending had to be cut. Several of us have had to address and institute reforms that we never though we would have to. It's needed that we reach a consensus on oil prices before the new year, 2017. As much as we would want to maintain our share, the lower oil prices have axed our foreign reserves. Iran's act of overflowing the market with their oil. In the last year, Iran has raised its production by 750,000 barrels, hurting our economies unlike no other. While production in US and North America has...

Offshore Technology Conference 2017

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge for offshore resources and environmental matters. OTC is the largest event in the world for the oil and gas industry featuring more than 2,300 exhibitors, and attendees representing 100 countries. Date of Event: 1-4 May 2017 Venue: NRG Park, Houston, Texas, USA Event Holder: Houston's Reliant Center