Crude Oil fell to 59.17 USD/Bbl on December 2, 2025, down 0.25% from the previous day. Over the past month, Crude Oil's price has fallen 3.08%, and is down 15.40% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on December of 2025.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% 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 December of 2025.

As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine 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.

OECD Global Crude Oil Imports Prices

Regional and Temporal Trends

By OECD [source]

About this dataset

This dataset contains global crude oil import prices from the OECD. It provides important insight into international trading of oil and its related products, enabling users to analyse market trends and compare prices across different countries. This data is essential for understanding the development of different economies, as well as their dependence on crude oil imports. Through analysis of this dataset, users can understand the role that regional and global factors play in impacting global crude oil import prices over time. The dataset includes columns tracking country/region of origin (LOCATION), indicator measured (INDICATOR), subject tracked (SUBJECT), measure taken (MEASURE), frequency interval (FREQUENCY), time period covered (TIME) as well as numerical value and flag codes associated with the data captured in each row. This invaluable source is perfect for researchers looking to take a deep dive into international markets over time or academics studying the complexities surrounding trade in the energy sector!

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How to use the dataset

This dataset is a great resource for anyone looking to analyze the current and historical prices of crude oil imports from the OECD. The data contains prices from member countries of the OECD and is updated regularly. This dataset can be used to study long term trends in price as well as explore differences between countries with different levels of crude oil import demand.

• In order to make use of this dataset, it’s important to familiarize yourself with the column names and descriptions. The first column is LOCATION which indicates which country or region the data applies to. INDICATOR indicates what information is being displayed (e.g., import market share, import value, etc.). SUBJECT describes what category that metric falls into (e.g., fuel energy). MEASURE tells you whether an amount is expressed in a unit or currency while FREQUENCY says how often data has been collected: monthly, quarterly or annually (average monthly/quarterly/annual etc..). TIME displays measure period start date in year-month format and Value denotes numerical value for each row's measurement respectively while flag codes indicate if any values are estimates or outlier measurements that should be examined further before using them

• Using this understanding, one could filter their search by creating filters on these columns accordingly depending on their research topic such as – pulling all records for China for Q4 2019 - then apply sorting on “VALUE” column based on imported measurements have become cheaper during given time frame etc.. Additionally formulas like SUMIFS() can also be used across multiple columns available within this agreement document at same time such as – total Imports Value from India & Japan combined during May 2019 till October 2020 – based upon bringing together Matching condition criteria met across few columns where needed at same time . As such this dataset provides flexible solutions which potentially allow us to explore patterns related either just single country's current trends -or- cross references since global side-by-side evaluation possible here featuring more than just one nation alone too ...........

Research Ideas

• Analyzing the impact of changes in crude oil prices on global economic growth.
• Examining the evolving dynamics of crude oil trade flows between different countries and regions.
• Tracking trends in crude oil import prices across different industries to identify potential opportunities for cost savings and efficiency gains

Acknowledgements

If you use this dataset in your research, please credit the original authors. Data Source

License

License: Dataset copyright by authors - You are free to: - Share - copy and redistribute the material in any medium or format for any purpose, even commercially. - Adapt - remix, transform, and build upon the material for any purpose, even commercially. - You must: - Give appropriate credit - Provide a link to the license, and indicate if changes were made. - ShareAlike - You must distribute your contributions under the same license as the original. - Keep intact - all notices that refer to this license, including copyright notices.

Columns

File: crude_oil_import_prices.csv | Column name | Description ...

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. 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 August 2025, the average price of one barrel of Brent crude oil was 67.87 U.S. dollars. This was a decrease from the previous month and 12 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.

The price of 55 gallons of crude oil can vary widely depending on global demand, supply levels, geopolitical events, and economic conditions. Learn more about how the price of oil is determined, its historical volatility, and its impact on various sectors of the economy.

Crude_oil_value.csv Description:

The crude_oil_value.csv file contains historical data on the monetary value of crude oil trades over specific periods. This dataset is essential for analyzing market trends, economic impacts, and forecasting future trade values. Each entry represents a recorded trade, detailing the value in terms of currency, along with relevant timestamps and geographic locations.

Columns: Year: The year of the trade. Country: Malaysia. Trade_Value: The monetary value of the trade in USD. Trade_Type: The type of trade (import & export). Currency: The currency used for the trade value.

Crude_oil_volume.csv Description:

The crude_oil_volume.csv file contains data on the volume of crude oil traded over time. This dataset is crucial for understanding the physical quantities of oil being moved in the market, assessing production capabilities, and analyzing supply chain dynamics. Each entry includes details on the volume of crude oil traded, alongside temporal and spatial data.

Columns: Year: The year of the trade. Country: Malaysia. Trade_Volume: The volume of crude oil traded, typically measured in barrels. Trade_Type: The type of trade ( import & export). Volume_Unit: The unit of measurement for the volume (e.g., barrels).

Urals Oil fell to 54.22 USD/Bbl on December 1, 2025, down 0.37% from the previous day. Over the past month, Urals Oil's price has fallen 7.52%, and is down 17.95% 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.

Crude Oil Production in Sudan remained unchanged at 30 BBL/D/1K in July. This dataset provides the latest reported value for - Sudan Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Japan Imports Value Index: Crude Oil data was reported at 377.420 2000=100 in Sep 2008. This records a decrease from the previous number of 466.040 2000=100 for Aug 2008. Japan Imports Value Index: Crude Oil data is updated monthly, averaging 112.010 2000=100 from Jan 1998 (Median) to Sep 2008, with 129 observations. The data reached an all-time high of 466.040 2000=100 in Aug 2008 and a record low of 42.230 2000=100 in Jan 1999. Japan Imports Value Index: Crude Oil data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Japan – Table JP.JA050: Imports Value Index.

Japan Commodity Futures: Value: Total: Crude Oil data was reported at 1,171.440 JPY bn in Oct 2018. This records an increase from the previous number of 759.087 JPY bn for Sep 2018. Japan Commodity Futures: Value: Total: Crude Oil data is updated monthly, averaging 319.079 JPY bn from May 2004 (Median) to Oct 2018, with 174 observations. The data reached an all-time high of 11,281.158 JPY bn in Jan 2017 and a record low of 45.147 JPY bn in Feb 2009. Japan Commodity Futures: Value: Total: Crude Oil data remains active status in CEIC and is reported by The Tokyo Commodity Exchange. The data is categorized under Global Database’s Japan – Table JP.Z017: Commodity Futures.

Ecuador Crude Oil Exports: FOB: Value data was reported at 738,710.818 USD th in Sep 2018. This records an increase from the previous number of 724,081.084 USD th for Aug 2018. Ecuador Crude Oil Exports: FOB: Value data is updated monthly, averaging 692,357.686 USD th from Jan 2006 (Median) to Sep 2018, with 153 observations. The data reached an all-time high of 1,494,127.381 USD th in May 2014 and a record low of 231,147.929 USD th in Feb 2016. Ecuador Crude Oil Exports: FOB: Value data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.RB003: Crude Oil Statistics.

Indonesia Export: Value: Crude Oil: Australia data was reported at 29.260 USD mn in May 2019. This records a decrease from the previous number of 35.454 USD mn for Apr 2019. Indonesia Export: Value: Crude Oil: Australia data is updated monthly, averaging 64.638 USD mn from Jan 2012 (Median) to May 2019, with 88 observations. The data reached an all-time high of 220.237 USD mn in May 2012 and a record low of 9.855 USD mn in Apr 2018. Indonesia Export: Value: Crude Oil: Australia data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Indonesia Premium Database’s Foreign Trade – Table ID.JAE001: Export: Commodities by Country: Crude Oil.

Indonesia Export: Value: Crude Oil: China data was reported at 11.209 USD mn in Mar 2019. This records a decrease from the previous number of 33.244 USD mn for Dec 2018. Indonesia Export: Value: Crude Oil: China data is updated monthly, averaging 38.057 USD mn from Mar 2012 (Median) to Mar 2019, with 55 observations. The data reached an all-time high of 150.853 USD mn in Mar 2016 and a record low of 0.000 USD mn in Dec 2012. Indonesia Export: Value: Crude Oil: China data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Indonesia Premium Database’s Foreign Trade – Table ID.JAE001: Export: Commodities by Country: Crude Oil.

A crude oil index is a measure of the price changes in crude oil over time, which is used as a benchmark for the global oil market. It provides investors, traders, and market participants with a standardized reference point to track the value of crude oil and make informed decisions regarding their investments.

Crude Oil Production in the United States increased to 13844 BBL/D/1K in September from 13800 BBL/D/1K in August of 2025. This dataset provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Spot Crude Oil Price: West Texas Intermediate (WTI) (WTISPLC) from Jan 1946 to Oct 2025 about WTI, crude, oil, price, and USA.

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.