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Petrobras says it can produce oil for a lower break-even price than onshore shale plays, including the Permian Basin. Brazil’s offshore sector has cut the cost of deepwater production but comparisons based on break-even prices are slippery. It's Hard To Make Money in Deepwater, Even With Billions of Barrels To Produce Low oil prices have made the goal of this Petrobras project and its four partners to lower the break-even price of operating to USD 35/bbl.