Even at a large discount, the Russians are making tons of money.
I read a few year ago that Russia would make money all the way down to 15 bucks a barrel. Seems plausible.....but,
Q. How much does it cost to produce a barrel of oil in Russia?
A.Russian production costs are $3-$4 per barrel and Russian firms could probably profit even if oil prices were $25-$30 per barrel. Jun 28, 2022
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Q. How much does it cost to produce a barrel of oil in Saudi Arabia?
A. In Saudi Arabia and Kuwait, production costs per barrel rarely exceeded $10 per barrel throughout the study period, and median costs were $5.40 a barrel. At the 95th percentile, the production cost was about $10 per barrel.