[bestintxas]

These are decidedly not high cost producers. Example of high cost is USA.

These are all countries that depend heavily on oil revenue and take an inordinately high take on oil production which makes them unattractive to most foreign investors.

Translation: they suffer the most when prices fall

[woodbutcher1963]

Thanks for the clarification.

However, I thought I had read that Venezuela and Iran needed to have oil over $90/barrel or they lost money.
Am I wrong. Please enlighten me.