Global Policy Forum

Cost of Oil in 1979

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Time Magazine
May 19, 2003

(Sources: Exxon Corp. Background Series, September 1980; Fadhil Chalabi; US Department of Energy)

(Table created by Robert Lastman)

Regions/Countries Average Cost to Produce One Barrel of Oil in 1979
US $10
North Sea $5
Saudi Arabia $2.50
Iraq Less than $1

More Information on Oil in Iraq
More Information on the Iraq Crisis

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FAIR USE NOTICE: This page contains copyrighted material the use of which has not been specifically authorized by the copyright owner. Global Policy Forum distributes this material without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. We believe this constitutes a fair use of any such copyrighted material as provided for in 17 U.S.C § 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.