Insight
Global oil cost curves and pre-FID breakevens - H2 2023
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
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 10-year investment horizon outlook in November 2023. Breakeven costs are assigned to every element of our global liquids supply forecast. This gives us a comprehensive view of the global cost of supply and forms a crucial part of our long-term oil price forecast.
Table of contents
- Key Middle Eastern OPEC countries contribute the cheapest sources of supply, dominating the lower end of the global cost curve
- US Lower 48, Canada and non-OPEC sits on the higher end of the cost curve
- Deepwater and US Lower 48 onshore will rely on high-cost supply to maintain production
- Future sources of supply are needed to offset onstream field declines of 18 million b/d over the next 10 years, in order to meet global demand
Tables and charts
This report includes 1 images and tables including:
- Global liquids capacity in 2033 by breakeven
What's included
This report contains:
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