Global Oil Cost Curves and Pre-FID Breakevens – updated H2 2020

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01 March 2021

Global Oil Cost Curves and Pre-FID Breakevens – updated H2 2020

Report summary

The Oil Supply Team have updated their breakeven analysis using the H2 2020 Macro Oils/Oil Supply Tool Long term update. Breakeven costs are assigned to every element of our global liquids supply view allowing a detailed, comprehensive view of the global cost of supply. Are higher cost sources of supply required? What competes with Onshore OPEC as the lowest cost future supply? We have updated our global breakeven analysis with our most popular charts and analysis to help you understand the global cost of supply. This report answers some key questions including: • Is higher cost supply needed in the future? • Where are the most competitive sources of new supply? • How has the pre-FID cost curve changed? • What role will contingent resources, reserves growth and further exploration play in the future cost of supply?

Table of contents

  • The cheapest sources of supply in OPEC and Russia underpin the global oil cost curve.
  • Higher cost supply from resource themes such as the US Lower 48, Canada and the highest cost shallow water non-OPEC supply are the most at risk post-2030
  • Pre-FID projects and future drilling in the US Lower 48 add 13 million b/d of supply by 2030
  • Future components add an additional 12 million b/d by 2030; over 40% of this breaks even below $40/bbl

Tables and charts

This report includes 1 images and tables including:

  • Global liquids capacity in 2030 by breakeven

What's included

This report contains:

  • Document

    Global Oil Cost Curves And Pre FID Breakevens H2 2020

    PDF 1.39 MB

  • Document

    Global Oil Cost Curves and Pre-FID Breakevens – updated H2 2020

    PDF 825.51 KB