Part 1/8:

Oil Production Costs: A Global Perspective

The production costs associated with extracting crude oil vary significantly around the globe, influenced largely by geographical and operational factors. As seen in a recent analysis of worldwide production costs, some striking patterns emerge when comparing countries.

Breakdown of Production Costs

In the provided data, the production costs per barrel of oil consist of several key components.

Capex (Capital Expenditure): Represented by the blue bar, this entails the costs associated with surveying, developing oil fields, laying pipelines, and creating necessary infrastructure.