Insight
Global oil cost curves and pre-FID breakevens - H1 2025
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Report summary
This insight includes the key charts and conclusions from our most recent global breakeven analysis, which was updated in line with the Global Oil Supply Strategic Planning Outlook – March 2025. Breakeven costs are assigned to every element of our global liquids supply forecast. This gives a comprehensive view of the global cost of supply and forms a crucial part of our long-term oil price forecast.
Table of contents
- Middle East OPEC dominates the lower end of the global cost curve
- Non-OPEC relies on higher cost supply to offset mature field declines through 2050
- Deepwater developments are becoming more competitive, driven by new production in Latin America
- Future sources of supply will account for 30% of production by 2035
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What's included
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