Sweet Crude

August 1, 2017

Oil production cost: UK, Brazil, Nigeria emerge top three

Oil production cost: UK, Brazil, Nigeria emerge top three

Oil rig worker

The United Kingdom, Brazil and Nigeria have emerged as nations with the highest cost of producing oil in the world.

Specifically, it cost $44.33, $34.99 and $28.99 to produce a barrel of crude oil the United Kingdom, Brazil and Nigeria respectively.

However, Saudi Arabia has the least cost of production, with $8.98 followed by Iran and Iraq, which had $9.08 and $10.57 respectively.