Sliding oil prices hitting oil producers

The collapse in oil prices is squeezing profit margins for oil-producing countries around the world, with many making substantial losses

AVERAGE COST TO PUMP ONE BARREL OF OIL
(20 biggest oil producing nations)

Losing money
Falling profits

One barrel sells for: $29.28 (Brent), $29.65 (U.S. crude)*

$52.50
$48.80
$41.00
$36.20
$36.10
$35.40
$35.30
$31.60
$29.90
$29.10
$27.80
$23.80
$23.50
$20.40
$17.20
$12.60
$12.30
$10.70
$9.90
$8.50

Kuwait
Saudi Arabia
Iraq
UAE
Russia
Iran
Algeria
Venezuela
Libya
Kazakhstan
Mexico
China
Nigeria
Colombia
Angola
Norway
U.S.
Canada
Brazil
UK

Prices could fall further as Iran intends to increase oil exports by 500,000 bpd into already saturated oil market


Production costs are combination of capital and operating costs and are based on survey of some
15,000 oil fields across 20 countries – data from Nov 2015.   *As of 11:58 GMT, Jan 18, 2016
Sources: Rystad Energy, wire agencies