In the United Kingdom, it costs $52.50 to produce a barrel of oil -- which is trading right now around $42.
Oil production in Brazil costs nearly $49 per barrel. Production costs around $41 a barrel in Canada.
In the United States, production costs are $36 a barrel -- still below the trading price.
Saudia Arabia and Kuwait can pump a barrel of oil for less than $10, on average. Iraq can produce oil for about $10.70 per barrel.
Iran is going to be producing for less than $12.
the middle east is crushing all of it's competition. once they bankrupt enough of them they will decrease production and oil will go up fast.