I think we should not confuse the saudi budget breakeven price...

I think we should not confuse the saudi budget breakeven price with their oil break even price

I know the numbers are last year but breakeven refers to the countries budgets not their oil costs

to quote.
Saudi Arabia needs oil prices to remain around $83 to breakeven in 2011, according to the Centre for Global Energy Studies (CGES).


"An OPEC basket price of $83/bbl would enable the Kingdom to cover both its current and capital expenditure in 2011, and at the same time have a contingency reserve of $10 billion for all eventualities," notes London-based CGES in a report.

"To cover its current spending in 2011, after subtracting its projected non-oil and investment income, Saudi Arabia needs an OPEC basket price of $53/bbl. Adding in $70bn of capital expenditure (broken down into $22bn for defence, $18bn for education and manpower, $13bn for infrastructure, water, etc...) requires a basket price of $79/bbl," notes CGES.

Still high, and I do not think we will ever see $60 a barrel again, unless the world switches to gas perhaps

just my thoughts