Cost of producing 1 barrel of oil
As of this writing, the current price per barrel of oil is around $70 per barrel. You can see the latest energy and oil prices at Bloomberg. What Can Be Made from One Barrel of Oil? Oil gets a bad rap these days, but the stuff is actually quite incredible. Many people think of crude oil as a thick, black liquid that is used to source our unquenchable thirst for gasoline. Phases 2 and 3 plan to boost output to 250,000 barrels per day, with potential for further expansion to 500,000 barrels per day. Production costs at Horizon are largely fixed, so production costs on a per barrel basis are projected to decline significantly when Phases 2 and 3 come on-stream. Currently the cost of production is in the $40/bbl range.