I don’t know what it costs to produce a barrel of oil, I’ve heard around $35. Anyhow, if the price gets too close to cost, that would be a bad thing.
I don’t either, but I believe it to be much closer to a dollar than to 35 dollars in Russia and Saudi.
There's no one answer to that; the cost to produce varies extremely widely depending on the source of the oil. There is oil that can be extracted for $4-5/barrel and oil that costs over $60/barrel to get out of the ground.
Anyway the lower, the better for everyone. The market will take care of how low it can go.
It depends on what country ... Saudi Arabia, for instance ... it’s $5 to $6. We’re just talking about getting it out of the ground, and not what it costs to run their government.
Depends....Ive heard its around $5/bbl in Saudi and much higher in other places.
It depends on where they produce it. Can be as low as $5/bbl in Saudi Arabia because it is just feet below the surface, to $75/bbl for some shale deposits and some deep sea rigs. Maybe average cost of all production is in the $30’s? Lots of other complicating factors as well such as Russian winters make it hard to make changes to production.