Brent rose to 68.10 USD/Bbl on September 1, 2025, up 0.92% from the previous day. Over the past month, Brent's price has fallen 0.95%, and is down 11.87% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on September of 2025.

As of July 2025, the average annual price of Brent crude oil stood at 71.79 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Blend crude oil price refers to the market price of a specific type of crude oil known as blend crude oil. It is an important indicator used by individuals and organizations in the oil and gas industry to track the movement and trends in the price of crude oil.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of July. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

In July 2025, the average price of one barrel of Brent crude oil was 71.04 U.S. dollars. This was relatively unchanged from the previous month and 14 U.S. dollars below July 2024 prices. Brent terminology and most common uses Brent is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies and is also the most significant crude oil benchmark for Europe. Brent crude originates in the North Sea and includes oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both oil reserves in Norway. Other names for Brent are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent includes oil from the other three major oil fields. Brent, next to West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulfur, it is ranged among the so-called sweet crude oils. Most of the Brent crude oil is refined into gasoline and middle distillates in Northwest Europe. Benchmark oil prices Other crucial benchmarks for crude oil prices are the already mentioned U.S.- WTI and Dubai Crude (Fateh). They are indispensable for referencing the many types and grades of oil on the global market. In the past 20 years, the annual price for one barrel of Brent crude oil saw a net increase. For example, the average price per barrel stood at 80.53 U.S. dollars in 2024.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-07-21 about crude, oil, Europe, commodities, and price.

Brent crude oil is projected to have an average annual spot price of 65.85 U.S. dollars per barrel in 2025, according to a forecast from May 2025. This would mean a decrease of nearly 15 U.S. dollars compared to the previous year, and also reflects a reduced forecast WTI crude oil price. Lower economic activity, an increase in OPEC+ production output, and uncertainty over trade tariffs all impacted price forecasting. All about Brent Also known as Brent Blend, London Brent, and Brent petroleum, Brent Crude is a crude oil benchmark named after the exploration site in the North Sea's Brent oilfield. It is a sweet light crude oil but slightly heavier than West Texas Intermediate. In this context, sweet refers to a low sulfur content and light refers to a relatively low density when compared to other crude oil benchmarks. Price development in the 2020s Oil prices are volatile, impacted by consumer demand and discoveries of new oilfields, new extraction methods such as fracking, and production caps routinely placed by OPEC on its member states. The price for Brent crude oil stood at an average of just 42 U.S. dollars in 2020, when the coronavirus pandemic resulted in a sudden demand drop. Two years later, sanctions on Russian energy imports, had pushed up prices to a new decade-high, above 100 U.S. dollars per barrel.

Indonesia Crude Oil Price: Mudi Mix data was reported at 62.700 USD/Barrel in Jul 2019. This records an increase from the previous number of 62.450 USD/Barrel for Jun 2019. Indonesia Crude Oil Price: Mudi Mix data is updated monthly, averaging 71.740 USD/Barrel from Jan 2006 (Median) to Jul 2019, with 163 observations. The data reached an all-time high of 134.970 USD/Barrel in Jul 2008 and a record low of 27.060 USD/Barrel in Jan 2016. Indonesia Crude Oil Price: Mudi Mix data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.RBH003: Crude Oil Price.

Urals Oil rose to 62.89 USD/Bbl on August 29, 2025, up 1.08% from the previous day. Over the past month, Urals Oil's price has fallen 8.38%, and is down 15.11% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

Indonesia Crude Oil Price: Sanga2 Mix data was reported at 71.590 USD/Barrel in Mar 2025. This records a decrease from the previous number of 74.620 USD/Barrel for Feb 2025. Indonesia Crude Oil Price: Sanga2 Mix data is updated monthly, averaging 73.460 USD/Barrel from Jul 2024 (Median) to Mar 2025, with 9 observations. The data reached an all-time high of 81.910 USD/Barrel in Jul 2024 and a record low of 71.530 USD/Barrel in Nov 2024. Indonesia Crude Oil Price: Sanga2 Mix data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.RBH003: Crude Oil Price.

In July 2025, the average price of the OPEC basket was 70.97 U.S. dollars per barrel. This was an increase compared to the previous month, which was among the lowest values in the past 24 months. The OPEC basket is a weighted average of prices for petroleum blends produced by OPEC countries. OPEC stands for “Organization of the Petroleum Exporting Countries” and was founded in 1960 in Baghdad, Iraq. The main aim of OPEC is to coordinate the oil policies of its members, and thus to have more influence on the international oil market. It is used as an important benchmark for crude oil prices. The OPEC basket oil price The OPEC crude oil price is defined by the price of the so-called OPEC (reference) basket. This basket is an average of the prices of petroleum blends that are produced by the OPEC members. The following countries are members of this organization: Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. Some of these oil blends are, for example, the Saharan Blend from Algeria, Basra Light from Iraq, and Arab Light from Saudi Arabia. The OPEC reference basket includes both heavy and light crude oils and is heavier than most other crudes. OPEC's oil production amounted to 32.8 million barrels per day in 2024. Oil price benchmarks The OPEC basket is one of the most crucial benchmarks for crude oil pricing worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. Looking at the OPEC price within the last two years, the highest price was some 94.6 U.S. dollars per barrel in September 2023.

The global synthetic blend motor oil market, valued at $3.516 billion in 2025, is projected to experience steady growth, driven by increasing vehicle ownership, particularly in emerging economies, and a rising preference for higher-performance lubricants that extend engine life. The market's 1.9% CAGR suggests a consistent, albeit moderate, expansion through 2033. Key drivers include the stringent emission regulations globally pushing for improved fuel efficiency and reduced harmful emissions, which synthetic blend oils effectively contribute to. Growing awareness among consumers regarding the benefits of synthetic blend motor oils, such as enhanced engine protection and extended drain intervals, also fuels market expansion. Segment-wise, the passenger car application segment likely holds the largest market share, followed by commercial vehicles and motorcycles. Within types, 5W-30 and 10W-30 grades are anticipated to dominate due to their widespread compatibility across various vehicle makes and models. However, the market faces some restraints, including price volatility of base oils and fluctuating crude oil prices, potentially impacting production costs and overall market growth. Furthermore, competition from fully synthetic oils and the emergence of alternative fuel vehicles pose challenges to the synthetic blend segment's future growth. The geographic distribution of the market is likely diverse, with North America and Europe holding significant shares due to established automotive industries and high vehicle density. However, rapid industrialization and increasing vehicle sales in Asia-Pacific regions, notably China and India, are expected to drive substantial market growth in these regions during the forecast period. Major players like Shell, ExxonMobil, and BP, with their extensive global distribution networks and strong brand recognition, hold significant market influence. Smaller, regional players also play a role, particularly in catering to specific market needs or offering specialized product lines. The continued evolution of engine technology, the increasing adoption of advanced lubricant formulations, and the growing focus on sustainability will likely shape the future trajectory of the synthetic blend motor oil market.

The global diesel motor oil market is experiencing robust growth, driven by the increasing demand for heavy-duty vehicles in construction, logistics, and transportation sectors. The market size in 2025 is estimated at $25 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 4.5% from 2025 to 2033. This growth is fueled by several key factors, including the expanding global economy, particularly in developing nations, leading to increased freight and passenger transportation. Furthermore, stricter emission regulations are promoting the adoption of advanced diesel engine technologies requiring specialized high-performance oils, further stimulating market demand. The rise of synthetic blend motor oils, offering a balance of performance and cost-effectiveness, is another significant driver. However, fluctuations in crude oil prices, a crucial input cost for oil production, pose a significant restraint. The market is segmented by oil type (conventional and synthetic blend) and application (light and heavy commercial vehicles), with the heavy commercial vehicle segment currently dominating due to higher oil consumption. Leading players, including Shell, ExxonMobil, BP, and Castrol, are strategically investing in research and development to enhance product quality and expand their market share through innovation and partnerships. The geographical distribution of the diesel motor oil market reflects global economic activity, with North America and Europe holding significant market shares. However, rapidly developing economies in Asia-Pacific, particularly China and India, are emerging as key growth regions due to their expanding industrial sectors and increasing vehicle ownership. The market is projected to witness a substantial increase in demand from these regions over the forecast period. Competition among major players is intense, characterized by price competition, product differentiation, and strategic acquisitions to expand market reach. The future outlook remains positive, driven by long-term growth in the global transportation sector, but susceptibility to macroeconomic factors and the evolving regulatory landscape remain critical considerations. The increasing adoption of electric and hybrid vehicles, while representing a long-term threat, is expected to have a moderate impact on the market in the short to medium term. This report provides a detailed analysis of the global diesel motor oils market, valued at over $30 billion in 2023, projecting robust growth to surpass $40 billion by 2028. This in-depth study examines market dynamics, competitive landscapes, and future growth prospects, focusing on key players, emerging trends, and regional variations. The report is an invaluable resource for industry stakeholders, investors, and researchers seeking to understand and capitalize on opportunities within this dynamic sector.

The global heavy-duty motor oil market is experiencing robust growth, driven by the expanding transportation and power generation sectors. A projected CAGR (let's assume a reasonable CAGR of 5% based on industry trends) from 2025 to 2033 indicates significant market expansion. This growth is fueled by several key factors. The increasing demand for efficient and durable lubricants in heavy-duty vehicles, including buses, trucks, and tractors, is a primary driver. Stringent emission regulations are prompting the adoption of higher-performance synthetic and synthetic blend oils, boosting the market for these premium segments. Furthermore, the growth of the power generation sector, particularly in developing economies, is creating substantial demand for heavy-duty motor oils suitable for various engine types and operating conditions. The market is segmented by application (buses and vans, trucks, tractors, cars and light-duty vehicles, power generation) and type (synthetic oil, synthetic blends, conventional oil, high-mileage oil). While the conventional oil segment currently holds a larger market share, the synthetic and synthetic blend segments are exhibiting faster growth due to their superior performance and extended drain intervals. Regional variations in market growth exist, with North America and Asia Pacific currently leading in consumption, driven by robust industrial activity and a large fleet of heavy-duty vehicles. However, emerging markets in regions like South America and Africa present significant future growth opportunities. Competitive pressures among major players like BASF, Chevron Oronite, Lubrizol, and others are driving innovation and enhancing product offerings. Market restraints include fluctuating crude oil prices, which impact production costs, and environmental concerns related to the disposal of used motor oil. However, advancements in sustainable and biodegradable lubricants are mitigating these concerns. The market's trajectory is expected to remain positive over the forecast period, with consistent growth propelled by the increasing global demand for efficient and reliable heavy-duty transportation and power generation. Further expansion will be fueled by technological advancements in lubricant formulations, improving fuel efficiency and extending engine lifespan. The ongoing emphasis on sustainability within the automotive and industrial sectors will drive the adoption of environmentally friendly heavy-duty motor oils.

NB Forecast: Crude Oil Price: Brent Blend: per Barrel data was reported at 69.000 USD in 2021. This records a decrease from the previous number of 72.000 USD for 2020. NB Forecast: Crude Oil Price: Brent Blend: per Barrel data is updated yearly, averaging 73.000 USD from Dec 2012 (Median) to 2021, with 10 observations. The data reached an all-time high of 112.000 USD in 2012 and a record low of 44.000 USD in 2016. NB Forecast: Crude Oil Price: Brent Blend: per Barrel data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.P006: Crude Oil Price: Forecast: Norges Bank.

This statistic displays the price of Mixed Sweet Blend (MSW) crude oil from 2014 to the first quarter of 2019. In 2019, the price of MSW amounted to ***** U.S. dollars per barrel of crude oil.

Fully Synthetic Motor Oil Market Outlook

The global market size for fully synthetic motor oil was valued at approximately USD 10.5 billion in 2023 and is projected to reach USD 16.7 billion by 2032, growing at a CAGR of 5.3% during the forecast period. This robust growth is attributed to the increased demand for high-performance lubricants, rising automotive sales, and heightened environmental awareness regarding fuel efficiency and emission standards.

The growth of the fully synthetic motor oil market is driven by several key factors. Firstly, the superior performance characteristics of fully synthetic motor oils, such as better viscosity, thermal stability, and longer oil change intervals, make them highly preferred over conventional oils. This increased preference is particularly evident in regions with extreme weather conditions, where synthetic oils can perform efficiently under both high and low temperatures. Secondly, the automotive industry's ongoing expansion, particularly in emerging economies like China and India, is significantly boosting the demand for fully synthetic motor oils. The rising number of vehicles on the road necessitates high-quality lubricants to ensure optimal engine performance and longevity.

Additionally, stringent government regulations aimed at reducing carbon emissions and enhancing fuel efficiency are propelling the adoption of fully synthetic motor oils. These oils not only reduce engine friction but also enhance fuel economy, thus aiding in the reduction of greenhouse gas emissions. Furthermore, the increasing consumer awareness regarding the benefits of using synthetic oils, such as improved engine protection and enhanced vehicle performance, is further driving market growth. As consumers become more informed, the shift from conventional to synthetic motor oils is expected to continue, contributing to market expansion.

The rise of electric vehicles (EVs) also presents a unique growth avenue for synthetic motor oils. While EVs do not require traditional engine oils, the growing hybrid vehicle segment still relies on synthetic oils for their internal combustion engines. Moreover, the technological advancements in synthetic oil formulations, aimed at catering to the specific needs of different vehicle types, are expected to fuel market growth. These advancements include the development of low-viscosity oils that offer better lubrication and fuel efficiency.

In the context of the growing demand for specialized lubricants, High Mileage Motor Oil has emerged as a crucial product category. Designed specifically for vehicles with over 75,000 miles, this type of oil addresses the unique needs of older engines. High Mileage Motor Oil contains additives that help reduce oil consumption, minimize leaks, and decrease engine wear. As vehicles age, seals and gaskets can become brittle, leading to potential oil leaks. The formulation of High Mileage Motor Oil includes seal conditioners that rejuvenate these components, thereby extending the life of the engine. This makes it an attractive option for consumers looking to maintain their older vehicles while ensuring optimal performance and efficiency.

Type Analysis

The fully synthetic motor oil market is segmented by type into full synthetic and synthetic blend. Full synthetic motor oils are renowned for their superior performance, offering the highest level of lubrication and protection, which safeguards engines against wear and tear under extreme conditions. These oils are particularly popular among performance enthusiasts and those who operate their vehicles in harsh climates. The full synthetic segment is expected to witness robust growth due to the increasing consumer awareness of its benefits, such as extended oil change intervals and superior engine protection.

On the other hand, synthetic blend oils, which combine synthetic and conventional base oils, offer a more affordable alternative while still providing many benefits of fully synthetic oils. They are especially attractive to cost-conscious consumers who seek better performance than conventional oils but at a lower price point than full synthetics. The synthetic blend segment is anticipated to grow steadily as more consumers transition from conventional oils to synthetic blends, driven by the rising cost of crude oil and the advantages of improved fuel efficiency and engine cleanliness offered by these blends.

The continuous innovation in oil formulations is also playi

1087 Global export shipment records of Synthetic Blend Oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Graph and download economic data for Producer Price Index by Industry: Fats and Oils Refining and Blending: Shortening and Cooking Oils (PCU3112253112252) from Dec 1981 to Jun 2025 about cooks, refined, fat, oil, PPI, industry, inflation, price index, indexes, price, and USA.

The Western Canadian Select (WCS) oil price has experienced significant fluctuations over the past two decades, reflecting the volatile nature of global oil markets. In 2024, the annual average WCS oil price reached ***** U.S. dollars per barrel, a slight increase from the previous year. This price movement is part of a broader trend in the oil industry, where prices have been influenced by various economic and geopolitical factors. What impacts oil prices? Oil prices have been on a rollercoaster ride since the early 2000s, with dramatic fluctuations observed in OPEC Reference Basket oils. For instance, the Saharan Blend from Algeria saw its price rise from about ** U.S. dollars per barrel in 2002 to over *** U.S. dollars a decade later, before settling at ***** U.S. dollars in 2023. These price swings have been driven by major events such as the 2008 global financial crisis, the 2020 coronavirus pandemic, and the 2022 energy supply crisis following the Russia-Ukraine war. The volatility in oil prices has had far-reaching impacts on global economies and energy markets as they impact manufacturers and consumers. How regionally important crudes can influence the global economy While WCS prices reflect trends in the North American market, other regional benchmarks provide insights into global oil dynamics. For example, Dubai Crude (Fateh), an important benchmark for Asia, averaged ***** U.S. dollars per barrel in 2023, down from ***** U.S. dollars the previous year. Similarly, Russia's Urals crude oil, a major export brand, saw its price fluctuate in response to global events and policy decisions, such as the price cap imposed by the G7, EU, and Australia in December 2022. These regional variations highlight the complex interplay of supply, demand, and geopolitical factors in shaping global oil prices.