Turning to oil production costs, a Rigzone report dated March 27 notes that the latest Dallas Fed Energy Survey asked exploration and production firms what WTI (West Texas Intermediate) oil price they need to cover operating expenses (opex) for existing wells. Based on a sample size of 80 companies, the average price across the entire sample was approximately US$43 ($55.51) per barrel. According to the survey, the average break-even price is US$66 per barrel, while the average break-even price in the Permian Basin is US$67 per barrel.
The Iran War has disrupted global energy markets, prompting some countries to accelerate investment in renewables. Europe, China, and the US are all diversifying their energy sources to include more low-carbon options.
Although President Donald Trump (referred to as ‘Taco’ for ‘Trump Always Chickens Out’) focused on oil and gas, American energy companies continue to invest in renewables. For example, Texas, a major renewable energy hub, generated around 39% of its electricity from low-carbon sources in 2025, with wind contributing 22%, solar 10% and nuclear 7%.
