Chart of the day: Oil Breakeven prices

After Saudi Arabia’s quiet talk on the fact that the country is comfortable with lower oil prices for an extended period of time, some countries are trying to find out some ‘measures’ to push up prices to ‘decent levels’. Brent November (2014) futures contract (COX4 Comdty)  is now down more than 25% since the end of June levels ($113 per barrel), trading slightly below $85.

We read that the Oil Storm is posing (and will pose) a problem for Russia (in addition to all the sanctions) and other OPEC countries. Therefore, we added today this chart (Source: DB) that shows you the Breakeven prices of all the big oil ‘players’.

For instance, Venezuela – OPEC member where oil revenues account for 95% of export earnings – called for an emergency OPEC meeting (next one stands on Nov. 27th) as current oil prices will hit its currency reserves. According to the chart below, the country needs a barrel at $120 to be breakeven (aka pay for its imports).

Let’s see what is the other countries’ breakeven…


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