Insight
Global oil cost curves and pre-FID breakevens - updated H2 2022
*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 October 2022. Breakeven costs are assigned to every element of our global liquids supply view allowing a detailed, comprehensive view of the global cost of supply. This analysis is a crucial part of our long-term oil price forecast.
Table of contents
- Key OPEC countries contribute the cheapest sources of supply, dominating the lower end of the global oil cost curve
- Supply from the US Lower 48, Canada and non-OPEC sits on the higher end of the cost curve
- Shallow water supply is mainly low cost, however, deepwater and US Lower 48 onshore rely on higher cost supply to maintain production
- Pre-FID projects globally and future drilling in the US Lower 48 will contribute 15 million b/d of supply over the next 10 years
- Additional future sources of supply add a further 14 million b/d over the next 10 years; with 8 million b/d breaking even below $40/bbl
Tables and charts
This report includes the following images and tables:
- Global liquids capacity in 2033 by breakeven
What's included
This report contains:
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