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Saudi production costs are like 2-3 a barrel, us fracking is somewhere in the 30s. Saudis can outlast any fracker
by notfromhere 7y ago
Saudi production costs are like 2-3 a barrel, us fracking is somewhere in the 30s. Saudis can outlast any fracker
- dahdum 7y agoArticle below says Aramaco's bond offering indicated they were near break at $45/barrel, vs the $10 often repeated. Their production seems to include a ton of waste. Beyond that, Saudi Arabia is estimated to need $70-85/barrel to balance their budget (though they can borrow if need be). In the past the consensus was they could outlast frackers, but I think that's changed in the past several years. https://www.forbes.com/sites/rrapier/2019/04/01/saudi-aramcos-breakeven-oil-price-is-higher-than-expected/#267c9fbe1c02 https://www.forbes.com/sites/rrapier/2019/04/01/saudi-aramco...