Geography and Environment of Middle East
hrh2006vhh
who_gets_what_2014_september.pdf
February 2014
Tax
Industry margin Includes transport, insurance and other costs
Crude fob price Includes cost of production and other related expenses
Note: One barrel equals 42 US gallons, or 159 litres
Source: OPEC Research Division, 2007, based on data from: 1. OECD, Energy Prices and Taxes 2. Oil Bulletin Petrolier 3. Energy Detente
Composite barrel analysis for major consuming countries
in nominal dollars per barrel 2002–2006
For more OPEC publications
contact: PR & Information Department
Tel: +43 1 211 12-279 Fax: +43 1 214 9827 E-mail: [email protected] Website: www.opec.org
Organization of the Petroleum Exporting Countries Obere Donaustraße 93, A-1020 Vienna, Austria
April 2007
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 20062002 03 04 05 2006
2002 03 04 05 2006 2002 03 04 05 2006
USA
2002 03 04 05 2000002002 03 04 05 2002002002 03 04 05 2000
USAA
02002 03 04 05 200200
000000200 006006200
Canada
2002 03 04 05 200600000200
Italy
2002 03 04 05 20062002 03 04 05 20006006200
Japan
Germany France
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 2006006006200
UK
Source: 2014 OPEC Annual Statistical Bulletin.
Notes: One barrel equals 42 US gallons, or 159 litres.
Taxes
Industry margin: Includes transport, insurance and other costs.
Crude FOB oil price: Includes cost of production and other related expenses. w
w w .o pe c. or g
September 2014
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Graph 4: Composite oil barrel analysis
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Industry
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$/b $/b
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$/b
Graph 2 compares annual average OECD revenues generated from oil taxes and annual average OPEC oil export revenues gained from the sale of oil. The graph shows that over the 2009–13 period, OECD economies received an average of $1,082 billion per year from oil taxes. OPEC Member Countries, on the other hand, earned an average of $966 billion per year over the same period — approxi- mately $115 billion less than OECD governments.
It is worth mentioning that while the billions of dollars earned by OECD countries from oil taxes are pure income for their nation- al governments, oil export revenues received by OPEC Member
Notes: Numbers are estimated in US dollars per litre for the year 2013. Industry margin includes transport, insurance and other costs.
Crude FOB (Free On Board) oil price includes the cost of production and other related
expenses.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Graph 2: Tax revenues vs. export revenues
Graph 3: Tax revenues vs. export revenues (per barrel of oil)
Charging the Consumer
As every driver knows, filling a fuel tank — and purchasing other petroleum products — can be very expensive. What is not widely known is that most of the money paid at the pump does not go to oil producers, but rather to the governments of consuming coun- tries.
Furthermore, it is commonly believed that the world’s oil-produc- ing countries — especially OPEC Member Countries — earn huge revenues from the sale of their oil to the rest of the world. But this is another myth. While revenues are indeed generated, they are earned primarily by the governments of oil-consuming countries, not OPEC.
OECD nations, for example, earn on average far more revenues from the taxes added to each litre of imported and refined oil than OPEC Member Countries make from the original sale of their oil.
Let’s take a closer look.
Consider Graph 1 on the right. It illustrates the wide regional vari- ations in the price of one litre of oil across a select group of OECD countries as well as the OECD average for 2013. These variations, however, are not due to differences in crude oil prices, but rather to wildly varying levels of applied taxes (shown in red) in those oil-consuming nations. These can range from relatively modest (but not insignificant) levels in the USA to very high levels in Eu- rope and the Asia-Pacific region.
A Taxing Business
Graph 1: Who gets what from a litre of oil in 2013?
Oil is always big news. Every increase in its price is thought to raise fuel costs to the detriment of consumers while gen- erating benefits for foreign oil producers.
But this is a misconception, one of many surrounding the price of oil and its impact on essential petroleum products.
This brochure has been prepared in an attempt to help clear up one of these misconceptions by answering the question: Who gets what from imported oil?
Introduction
Countries must also cover the high cost of exploration, produc- tion and transportation.
The result is that oil-consuming countries end up making more money from the sale of oil products than oil-producing countries earn from the sale of oil.
This is further illustrated in Graph 3 on the right. The graph com- pares average annual OECD taxes earned per barrel of oil for the period 2009–13 and OPEC Member Countries’ export revenues gained per barrel of oil. It can be seen that while OPEC Member Countries’ annual oil export revenues amounted on average to $95 per barrel, OECD countries’ tax revenues amounted on aver- age to $116 per barrel of oil.
This means that OECD nations earned on average about $21 per barrel of oil more than OPEC Member Countries, over the past five years.
It is clear that the real burden on consumers from the price of oil products comes from taxes, not from the original price paid for crude oil or the margins going to the oil companies. And the main beneficiaries of this are the governments of consuming countries.
The country graphs (see reverse) provide a country-by- country breakdown of the nominal cost of each barrel of oil in some OECD countries relative to oil taxes for the 2009–13 period. They clearly illustrate that if oil products were not so heavily taxed in OECD countries, they would cost only a fraction of their current price.
So the next time you hear that the price of a barrel
of oil is having an impact on the price you pay at the
pump, remember that oil-related taxes are imposed by
many governments and that they are often the biggest
beneficiaries.
$/litre
USA
Canada
Japan
France
OECD average
Italy
Germany
UK
$0.14 (14.2%)
$0.37 (29.6%)
$0.45 (32.3%)
$0.77 (44.9%)
$0.89 (49.3%)
$0.96 (50.6%)
$1.22 (55.5%)
$1.21 (57.8%)
0 0.5 1.0 1.5 2.0 2.5
Crude oil price Industry margin Taxes
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2 compares annual average OECD revenues generated from oil taxes and annual average OPEC oil export revenues gained from the sale of oil. The graph shows that over the 2009–13 period, OECD economies received an average of $1,082 billion per year from oil taxes. OPEC Member Countries, on the other hand, earned an average of $966 billion per year over the same period — approxi- mately $115 billion less than OECD governments.
It is worth mentioning that while the billions of dollars earned by OECD countries from oil taxes are pure income for their nation- al governments, oil export revenues received by OPEC Member
Notes: Numbers are estimated in US dollars per litre for the year 2013. Industry margin includes transport, insurance and other costs.
Crude FOB (Free On Board) oil price includes the cost of production and other related
expenses.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Graph 2: Tax revenues vs. export revenues
Graph 3: Tax revenues vs. export revenues (per barrel of oil)
Charging the Consumer
As every driver knows, filling a fuel tank — and purchasing other petroleum products — can be very expensive. What is not widely known is that most of the money paid at the pump does not go to oil producers, but rather to the governments of consuming coun- tries.
Furthermore, it is commonly believed that the world’s oil-produc- ing countries — especially OPEC Member Countries — earn huge revenues from the sale of their oil to the rest of the world. But this is another myth. While revenues are indeed generated, they are earned primarily by the governments of oil-consuming countries, not OPEC.
OECD nations, for example, earn on average far more revenues from the taxes added to each litre of imported and refined oil than OPEC Member Countries make from the original sale of their oil.
Let’s take a closer look.
Consider Graph 1 on the right. It illustrates the wide regional vari- ations in the price of one litre of oil across a select group of OECD countries as well as the OECD average for 2013. These variations, however, are not due to differences in crude oil prices, but rather to wildly varying levels of applied taxes (shown in red) in those oil-consuming nations. These can range from relatively modest (but not insignificant) levels in the USA to very high levels in Eu- rope and the Asia-Pacific region.
A Taxing Business
Graph 1: Who gets what from a litre of oil in 2013?
Oil is always big news. Every increase in its price is thought to raise fuel costs to the detriment of consumers while gen- erating benefits for foreign oil producers.
But this is a misconception, one of many surrounding the price of oil and its impact on essential petroleum products.
This brochure has been prepared in an attempt to help clear up one of these misconceptions by answering the question: Who gets what from imported oil?
Introduction
Countries must also cover the high cost of exploration, produc- tion and transportation.
The result is that oil-consuming countries end up making more money from the sale of oil products than oil-producing countries earn from the sale of oil.
This is further illustrated in Graph 3 on the right. The graph com- pares average annual OECD taxes earned per barrel of oil for the period 2009–13 and OPEC Member Countries’ export revenues gained per barrel of oil. It can be seen that while OPEC Member Countries’ annual oil export revenues amounted on average to $95 per barrel, OECD countries’ tax revenues amounted on aver- age to $116 per barrel of oil.
This means that OECD nations earned on average about $21 per barrel of oil more than OPEC Member Countries, over the past five years.
It is clear that the real burden on consumers from the price of oil products comes from taxes, not from the original price paid for crude oil or the margins going to the oil companies. And the main beneficiaries of this are the governments of consuming countries.
The country graphs (see reverse) provide a country-by- country breakdown of the nominal cost of each barrel of oil in some OECD countries relative to oil taxes for the 2009–13 period. They clearly illustrate that if oil products were not so heavily taxed in OECD countries, they would cost only a fraction of their current price.
So the next time you hear that the price of a barrel
of oil is having an impact on the price you pay at the
pump, remember that oil-related taxes are imposed by
many governments and that they are often the biggest
beneficiaries.
$/litre
USA
Canada
Japan
France
OECD average
Italy
Germany
UK
$0.14 (14.2%)
$0.37 (29.6%)
$0.45 (32.3%)
$0.77 (44.9%)
$0.89 (49.3%)
$0.96 (50.6%)
$1.22 (55.5%)
$1.21 (57.8%)
0 0.5 1.0 1.5 2.0 2.5
Crude oil price Industry margin Taxes
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2 compares annual average OECD revenues generated from oil taxes and annual average OPEC oil export revenues gained from the sale of oil. The graph shows that over the 2009–13 period, OECD economies received an average of $1,082 billion per year from oil taxes. OPEC Member Countries, on the other hand, earned an average of $966 billion per year over the same period — approxi- mately $115 billion less than OECD governments.
It is worth mentioning that while the billions of dollars earned by OECD countries from oil taxes are pure income for their nation- al governments, oil export revenues received by OPEC Member
Notes: Numbers are estimated in US dollars per litre for the year 2013. Industry margin includes transport, insurance and other costs.
Crude FOB (Free On Board) oil price includes the cost of production and other related
expenses.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Graph 2: Tax revenues vs. export revenues
Graph 3: Tax revenues vs. export revenues (per barrel of oil)
Charging the Consumer
As every driver knows, filling a fuel tank — and purchasing other petroleum products — can be very expensive. What is not widely known is that most of the money paid at the pump does not go to oil producers, but rather to the governments of consuming coun- tries.
Furthermore, it is commonly believed that the world’s oil-produc- ing countries — especially OPEC Member Countries — earn huge revenues from the sale of their oil to the rest of the world. But this is another myth. While revenues are indeed generated, they are earned primarily by the governments of oil-consuming countries, not OPEC.
OECD nations, for example, earn on average far more revenues from the taxes added to each litre of imported and refined oil than OPEC Member Countries make from the original sale of their oil.
Let’s take a closer look.
Consider Graph 1 on the right. It illustrates the wide regional vari- ations in the price of one litre of oil across a select group of OECD countries as well as the OECD average for 2013. These variations, however, are not due to differences in crude oil prices, but rather to wildly varying levels of applied taxes (shown in red) in those oil-consuming nations. These can range from relatively modest (but not insignificant) levels in the USA to very high levels in Eu- rope and the Asia-Pacific region.
A Taxing Business
Graph 1: Who gets what from a litre of oil in 2013?
Oil is always big news. Every increase in its price is thought to raise fuel costs to the detriment of consumers while gen- erating benefits for foreign oil producers.
But this is a misconception, one of many surrounding the price of oil and its impact on essential petroleum products.
This brochure has been prepared in an attempt to help clear up one of these misconceptions by answering the question: Who gets what from imported oil?
Introduction
Countries must also cover the high cost of exploration, produc- tion and transportation.
The result is that oil-consuming countries end up making more money from the sale of oil products than oil-producing countries earn from the sale of oil.
This is further illustrated in Graph 3 on the right. The graph com- pares average annual OECD taxes earned per barrel of oil for the period 2009–13 and OPEC Member Countries’ export revenues gained per barrel of oil. It can be seen that while OPEC Member Countries’ annual oil export revenues amounted on average to $95 per barrel, OECD countries’ tax revenues amounted on aver- age to $116 per barrel of oil.
This means that OECD nations earned on average about $21 per barrel of oil more than OPEC Member Countries, over the past five years.
It is clear that the real burden on consumers from the price of oil products comes from taxes, not from the original price paid for crude oil or the margins going to the oil companies. And the main beneficiaries of this are the governments of consuming countries.
The country graphs (see reverse) provide a country-by- country breakdown of the nominal cost of each barrel of oil in some OECD countries relative to oil taxes for the 2009–13 period. They clearly illustrate that if oil products were not so heavily taxed in OECD countries, they would cost only a fraction of their current price.
So the next time you hear that the price of a barrel
of oil is having an impact on the price you pay at the
pump, remember that oil-related taxes are imposed by
many governments and that they are often the biggest
beneficiaries.
$/litre
USA
Canada
Japan
France
OECD average
Italy
Germany
UK
$0.14 (14.2%)
$0.37 (29.6%)
$0.45 (32.3%)
$0.77 (44.9%)
$0.89 (49.3%)
$0.96 (50.6%)
$1.22 (55.5%)
$1.21 (57.8%)
0 0.5 1.0 1.5 2.0 2.5
Crude oil price Industry margin Taxes
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2 compares annual average OECD revenues generated from oil taxes and annual average OPEC oil export revenues gained from the sale of oil. The graph shows that over the 2009–13 period, OECD economies received an average of $1,082 billion per year from oil taxes. OPEC Member Countries, on the other hand, earned an average of $966 billion per year over the same period — approxi- mately $115 billion less than OECD governments.
It is worth mentioning that while the billions of dollars earned by OECD countries from oil taxes are pure income for their nation- al governments, oil export revenues received by OPEC Member
Notes: Numbers are estimated in US dollars per litre for the year 2013. Industry margin includes transport, insurance and other costs.
Crude FOB (Free On Board) oil price includes the cost of production and other related
expenses.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Source: 2014 OPEC Annual Statistical Bulletin.
Graph 2: Tax revenues vs. export revenues
Graph 3: Tax revenues vs. export revenues (per barrel of oil)
Charging the Consumer
As every driver knows, filling a fuel tank — and purchasing other petroleum products — can be very expensive. What is not widely known is that most of the money paid at the pump does not go to oil producers, but rather to the governments of consuming coun- tries.
Furthermore, it is commonly believed that the world’s oil-produc- ing countries — especially OPEC Member Countries — earn huge revenues from the sale of their oil to the rest of the world. But this is another myth. While revenues are indeed generated, they are earned primarily by the governments of oil-consuming countries, not OPEC.
OECD nations, for example, earn on average far more revenues from the taxes added to each litre of imported and refined oil than OPEC Member Countries make from the original sale of their oil.
Let’s take a closer look.
Consider Graph 1 on the right. It illustrates the wide regional vari- ations in the price of one litre of oil across a select group of OECD countries as well as the OECD average for 2013. These variations, however, are not due to differences in crude oil prices, but rather to wildly varying levels of applied taxes (shown in red) in those oil-consuming nations. These can range from relatively modest (but not insignificant) levels in the USA to very high levels in Eu- rope and the Asia-Pacific region.
A Taxing Business
Graph 1: Who gets what from a litre of oil in 2013?
Oil is always big news. Every increase in its price is thought to raise fuel costs to the detriment of consumers while gen- erating benefits for foreign oil producers.
But this is a misconception, one of many surrounding the price of oil and its impact on essential petroleum products.
This brochure has been prepared in an attempt to help clear up one of these misconceptions by answering the question: Who gets what from imported oil?
Introduction
Countries must also cover the high cost of exploration, produc- tion and transportation.
The result is that oil-consuming countries end up making more money from the sale of oil products than oil-producing countries earn from the sale of oil.
This is further illustrated in Graph 3 on the right. The graph com- pares average annual OECD taxes earned per barrel of oil for the period 2009–13 and OPEC Member Countries’ export revenues gained per barrel of oil. It can be seen that while OPEC Member Countries’ annual oil export revenues amounted on average to $95 per barrel, OECD countries’ tax revenues amounted on aver- age to $116 per barrel of oil.
This means that OECD nations earned on average about $21 per barrel of oil more than OPEC Member Countries, over the past five years.
It is clear that the real burden on consumers from the price of oil products comes from taxes, not from the original price paid for crude oil or the margins going to the oil companies. And the main beneficiaries of this are the governments of consuming countries.
The country graphs (see reverse) provide a country-by- country breakdown of the nominal cost of each barrel of oil in some OECD countries relative to oil taxes for the 2009–13 period. They clearly illustrate that if oil products were not so heavily taxed in OECD countries, they would cost only a fraction of their current price.
So the next time you hear that the price of a barrel
of oil is having an impact on the price you pay at the
pump, remember that oil-related taxes are imposed by
many governments and that they are often the biggest
beneficiaries.
$/litre
USA
Canada
Japan
France
OECD average
Italy
Germany
UK
$0.14 (14.2%)
$0.37 (29.6%)
$0.45 (32.3%)
$0.77 (44.9%)
$0.89 (49.3%)
$0.96 (50.6%)
$1.22 (55.5%)
$1.21 (57.8%)
0 0.5 1.0 1.5 2.0 2.5
Crude oil price Industry margin Taxes
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Graph 2
Graph 3
966
0
200
400
600
800
1,000
1,200
Estimated average annual OECD oil tax revenues
2009–13
Estimated average annual OPEC oil export revenues
2009–13
1,082
116
95
0
20
40
60
80
100
120
140
Estimated average annual OECD tax revenues per barrel of oil
2009–13
Estimated average annual OPEC export revenues per barrel of oil
2009–13
billion $
$/barrel
Tax
Industry margin Includes transport, insurance and other costs
Crude fob price Includes cost of production and other related expenses
Note: One barrel equals 42 US gallons, or 159 litres
Source: OPEC Research Division, 2007, based on data from: 1. OECD, Energy Prices and Taxes 2. Oil Bulletin Petrolier 3. Energy Detente
Composite barrel analysis for major consuming countries
in nominal dollars per barrel 2002–2006
For more OPEC publications
contact: PR & Information Department
Tel: +43 1 211 12-279 Fax: +43 1 214 9827 E-mail: [email protected] Website: www.opec.org
Organization of the Petroleum Exporting Countries Obere Donaustraße 93, A-1020 Vienna, Austria
April 2007
200
180
160
140
120
100
80
60
40
20
0
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60
40
20
0
2002 03 04 05 20062002 03 04 05 2006
2002 03 04 05 2006 2002 03 04 05 2006
USA
2002 03 04 05 2000002002 03 04 05 2002002002 03 04 05 2000
USAA
02002 03 04 05 200200
000000200 006006200
Canada
2002 03 04 05 200600000200
Italy
2002 03 04 05 20062002 03 04 05 20006006200
Japan
Germany France
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 2006006006200
UK
Source: 2014 OPEC Annual Statistical Bulletin.
Notes: One barrel equals 42 US gallons, or 159 litres.
Taxes
Industry margin: Includes transport, insurance and other costs.
Crude FOB oil price: Includes cost of production and other related expenses. w
w w .o pe c. or g
September 2014
0
50
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Graph 4: Composite oil barrel analysis
0
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131211102009
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Tax
Industry
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$/b $/b
$/b $/b
$/b $/b
$/b
0
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350
131211102009
USA
0
50
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Tax
Industry
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131211102009
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0
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0
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$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
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250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
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250
300
350
131211102009
Germany
0
50
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350
131211102009
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350
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0
50
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350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
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250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
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0
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100
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250
300
350
131211102009
UK
0
50
100
150
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300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
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0
50
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350
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0
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$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
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0
50
100
150
200
250
300
350
131211102009
Italy
0
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100
150
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350
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0
50
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150
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250
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350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
Tax
Industry margin Includes transport, insurance and other costs
Crude fob price Includes cost of production and other related expenses
Note: One barrel equals 42 US gallons, or 159 litres
Source: OPEC Research Division, 2007, based on data from: 1. OECD, Energy Prices and Taxes 2. Oil Bulletin Petrolier 3. Energy Detente
Composite barrel analysis for major consuming countries
in nominal dollars per barrel 2002–2006
For more OPEC publications
contact: PR & Information Department
Tel: +43 1 211 12-279 Fax: +43 1 214 9827 E-mail: [email protected] Website: www.opec.org
Organization of the Petroleum Exporting Countries Obere Donaustraße 93, A-1020 Vienna, Austria
April 2007
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 20062002 03 04 05 2006
2002 03 04 05 2006 2002 03 04 05 2006
USA
2002 03 04 05 2000002002 03 04 05 2002002002 03 04 05 2000
USAA
02002 03 04 05 200200
000000200 006006200
Canada
2002 03 04 05 200600000200
Italy
2002 03 04 05 20062002 03 04 05 20006006200
Japan
Germany France
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 2006006006200
UK
Source: 2014 OPEC Annual Statistical Bulletin.
Notes: One barrel equals 42 US gallons, or 159 litres.
Taxes
Industry margin: Includes transport, insurance and other costs.
Crude FOB oil price: Includes cost of production and other related expenses. w w w .o pe c. or g
September 2014
0
50
100
150
200
250
300
350
121110092008
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
121110092008
Canada
0
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Tax
Industry
Crude
121110092008
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Tax
Industry
Crude
121110092008
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0
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121110092008
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121110092008
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0
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121110092008
Japan
Graph 4: Composite oil barrel analysis
0
50
100
150
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250
300
350
131211102009
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0
50
100
150
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250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
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350
131211102009
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0
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100
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350
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0
50
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350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
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0
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100
150
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250
300
350
131211102009
UK
0
50
100
150
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250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
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350
131211102009
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350
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0
50
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350
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Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
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250
300
350
131211102009
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0
50
100
150
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350
131211102009
Germany
0
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350
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0
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350
131211102009
Japan
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$/b $/b
$/b $/b
$/b
0
50
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300
350
131211102009
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0
50
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Tax
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131211102009
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$/b
0
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350
131211102009
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0
50
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Tax
Industry
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131211102009
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0
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350
131211102009
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0
50
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Industry
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131211102009
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0
50
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0
50
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Japan
$/b $/b
$/b $/b
$/b $/b
$/b
Tax
Industry margin Includes transport, insurance and other costs
Crude fob price Includes cost of production and other related expenses
Note: One barrel equals 42 US gallons, or 159 litres
Source: OPEC Research Division, 2007, based on data from: 1. OECD, Energy Prices and Taxes 2. Oil Bulletin Petrolier 3. Energy Detente
Composite barrel analysis for major consuming countries
in nominal dollars per barrel 2002–2006
For more OPEC publications
contact: PR & Information Department
Tel: +43 1 211 12-279 Fax: +43 1 214 9827 E-mail: [email protected] Website: www.opec.org
Organization of the Petroleum Exporting Countries Obere Donaustraße 93, A-1020 Vienna, Austria
April 2007
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 20062002 03 04 05 2006
2002 03 04 05 2006 2002 03 04 05 2006
USA
2002 03 04 05 2000002002 03 04 05 2002002002 03 04 05 2000
USAA
02002 03 04 05 200200
000000200 006006200
Canada
2002 03 04 05 200600000200
Italy
2002 03 04 05 20062002 03 04 05 20006006200
Japan
Germany France
200
180
160
140
120
100
80
60
40
20
0
200
180
160
140
120
100
80
60
40
20
0
2002 03 04 05 2006006006200
UK
Source: 2014 OPEC Annual Statistical Bulletin.
Notes: One barrel equals 42 US gallons, or 159 litres.
Taxes
Industry margin: Includes transport, insurance and other costs.
Crude FOB oil price: Includes cost of production and other related expenses. w
w w .o pe c. or g
September 2014
0
50
100
150
200
250
300
350
121110092008
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
121110092008
Canada
0
50
100
150
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250
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350
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0
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300
350
121110092008
Italy
0
50
100
150
200
250
300
350
121110092008
UK
0
50
100
150
200
250
300
350
121110092008
Japan
0
50
100
150
200
250
300
350
121110092008
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
121110092008
Canada
0
50
100
150
200
250
300
350
121110092008
France
0
50
100
150
200
250
300
350
121110092008
Germany
0
50
100
150
200
250
300
350
121110092008
Italy
0
50
100
150
200
250
300
350
121110092008
UK
0
50
100
150
200
250
300
350
121110092008
Japan
0
50
100
150
200
250
300
350
121110092008
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
121110092008
Canada
0
50
100
150
200
250
300
350
121110092008
France
0
50
100
150
200
250
300
350
121110092008
Germany
0
50
100
150
200
250
300
350
121110092008
Italy
0
50
100
150
200
250
300
350
121110092008
UK
0
50
100
150
200
250
300
350
121110092008
Japan
Graph 4: Composite oil barrel analysis
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
0
50
100
150
200
250
300
350
131211102009
USA
0
50
100
150
200
250
300
350
Tax
Industry
Crude
131211102009
Canada
0
50
100
150
200
250
300
350
131211102009
France
0
50
100
150
200
250
300
350
131211102009
Germany
0
50
100
150
200
250
300
350
131211102009
Italy
0
50
100
150
200
250
300
350
131211102009
UK
0
50
100
150
200
250
300
350
131211102009
Japan
$/b $/b
$/b $/b
$/b $/b
$/b
