Deepwater projects are big winners as average breakeven price drops to US$50 per barrel – Rystad Energy - Panorama Insurance Brokers

Deepwater projects are big winners as average breakeven price drops to US$50 per barrel – Rystad Energy

A comprehensive analysis by Norway-based Rystad Energy of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10% over the last two years, and 35% since 2014.

Rystad Energy said this means that oil is much cheaper to produce now compared to six years ago, with the clear cost savings winner being new offshore deepwater developments.

Read more at OilNOW.gy