A recent report by Rystad Energy International, a research and energy consultancy firm, confirmed Iraq ranks third in having the lowest cost of oil production per barrel. Rystad Energy also concluded that Britain and Brazil have the overall highest production cost which registered at 30-70 dollars per barrel. OPEC countries have a 40% control on oil production and own 70% of the world's oil reserves. As the list explains, Middle Eastern countries rank in the lowest production costs while Britain and Brazil have the highest.
Iraq produces 3.8 million barrels per day ranked third in overall production costs per barrel at $10.70 dollars per barrel.
Kuwait has a cost of $8.50 dollars production cost per barrel
K.S.A. has an overall production cost of $9.90 dollars per barrel
Iraq has a production cost of $10.70 per barrel production cost
U.A.E. has a production cost of $12.30 per barrel production cost
Iran has a production cost of $12.60 per barrel production cost
Russia has a production cost of $18.00 per barrel
United States has a $36.00 dollars per barrel production cost
Canada has a $41.00 dollars per barrel production cost
Brazil has a $49.00 dollars per barrel production cost
Britain has a $52.00 dollars per barrel production cost
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