Monday, December 29, 2008

Oil Producing Countries' Break-Even Oil Prices

This list is taken from CNBC which reveals oil producing countries' break-even oil prices. Break-Even Price is the amount of money it takes to extract 1 barrel of oil. This list shows the cost needed for these oil producing countries to avoid having a budget deficit in 2008 and 2009 as compiled by the IMF.

Bahrain
Break-even price
2008: $75
2009: $84

Kuwait
Break-even price
2008: $33
2009: $34

Oman
Break-even price
2008: $77
2009: $78

Qatar
Break-even price
2008: $24
2009: $24

Saudi Arabia
Break-even price
2008: $49
2009: $54

UAE
Break-even price
2008: $23
2009: $24

Algeria
Break-even price
2008: $50
2009: $60

Azerbaijan
Break-even price
2008: $40
2009: $35

Iran
Break-even price
2008: $90
2009: $90

Iraq
Break-even price
2008: $111
2009: $94

Republic of Kazakhstan
Break-even price
2008: $59
2009: $67

Libya
Break-even price
2008: $47
2009: $53

Looks like $37 per barrel will not last long.

What do you think?
What price should it be?

If I were you I'd stay away from those gas guzzlers!

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