20 datasets found
  1. Inflation in Saudi Arabia since 1987

    • statista.com
    Updated Apr 15, 2025
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    Statista (2025). Inflation in Saudi Arabia since 1987 [Dataset]. https://www.statista.com/statistics/268062/inflation-in-saudi-arabia/
    Explore at:
    Dataset updated
    Apr 15, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Saudi Arabia
    Description

    The statistic shows the inflation rate in Saudi Arabia from 1987 to 2022, with projections up until 2030. In 2023, the average inflation rate amounted to 2.33 percent compared to the previous year. Oil production in Saudi Arabia Saudi Arabia’s economy relies heavily on production and export of oil and petroleum. A look at the distribution of global oil reserves by country shows that only Venezuela possesses a higher share in global oil reserves than the Arab state. All in all, Saudi Arabia’s economy is doing quite well. The oil reserves in Saudi Arabia have increased over the last two decades, and the same can be said for the country’s gross domestic product. The unemployment rate has been stable, while the trade balance has shown a steady upwards trend with a significant jump in 2011. Accordingly, Saudi Arabia’s national debt in relation to gross domestic product has been decreasing dramatically over the last ten years. Saudi Arabia is also among the countries with the highest oil consumption worldwide; a ranking of the share of the major consuming countries in global oil consumption, which is led by the United States (which consume almost one fifth of global oil), places Saudi Arabia sixth, behind the US, Russia, and China. Being one of the leading oil producing countries, Saudi Arabia is also a member of OPEC (Organization of the Petroleum Exporting Countries), an association whose primary goal is regulating crude oil prices worldwide and coordinating the oil production and trade of the member countries. According to OPEC, the average price for crude oil has been rising since the 1960s.

  2. T

    Saudi Arabia Inflation Rate

    • tradingeconomics.com
    • de.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Oct 15, 2025
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    TRADING ECONOMICS (2025). Saudi Arabia Inflation Rate [Dataset]. https://tradingeconomics.com/saudi-arabia/inflation-cpi
    Explore at:
    csv, json, excel, xmlAvailable download formats
    Dataset updated
    Oct 15, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 2000 - Oct 31, 2025
    Area covered
    Saudi Arabia
    Description

    Inflation Rate in Saudi Arabia remained unchanged at 2.20 percent in October. This dataset provides - Saudi Arabia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

  3. k

    Saudi Arabia Inflation Rate (2007,2013 = 100)

    • datasource.kapsarc.org
    • kapsarc.opendatasoft.com
    Updated Mar 14, 2024
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    (2024). Saudi Arabia Inflation Rate (2007,2013 = 100) [Dataset]. https://datasource.kapsarc.org/explore/dataset/inflation-rate/
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    Dataset updated
    Mar 14, 2024
    Area covered
    Saudi Arabia
    Description

    Explore the latest data on Saudi Arabia's Consumer Price Index (CPI) and Inflation Rate. Access comprehensive information and analysis on economic trends in Saudi Arabia.

    Saudi Arabia CPI, Saudi Arabia Inflation Rate

    Saudi ArabiaFollow data.kapsarc.org for timely data to advance energy economics research..Note:- Data found here from January 2018 till January 2020 was 2013 base year CPI calculation- Data found here from October 2009 till December 2017 was 2007 base year CPI calculation.You can find Saudi Arabia Inflation Rate with the latest 2018 base year on KAPSARC Dataportal.

  4. Inflation rate in the GCC by country 2020

    • statista.com
    Updated Jul 14, 2021
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    Statista (2021). Inflation rate in the GCC by country 2020 [Dataset]. https://www.statista.com/statistics/1316925/gcc-inflation-rate-by-country/
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    Dataset updated
    Jul 14, 2021
    Dataset authored and provided by
    Statistahttp://statista.com/
    Time period covered
    2020
    Area covered
    Saudi Arabia
    Description

    As of 2020, the inflation rate of Saudi Arabia was about *** percent. In comparison, the inflation rate of Qatar was negative *** percent for the same year. Influence of inflation on consumers Inflation is predicted to increase rapidly worldwide. This has also brought changes in the purchasing behavior of consumers. Consumers have changed their purchasing habits toward purchasing apparel, electronics, and beauty products with the increase in the prices of goods. A survey revealed the rising costs of groceries had impacted consumers’ online shopping behavior the most. Inflation rate in the MENA region Among the Middle East countries, the year-on-year inflation rate was projected to grow from negative *** percent to *** percent for Oman by 2021. It was also forecasted that the average inflation rate of Qatar would increase significantly over the years.

  5. T

    Saudi Arabia Inflation Rate MoM

    • tradingeconomics.com
    • pt.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Sep 10, 2025
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    TRADING ECONOMICS (2025). Saudi Arabia Inflation Rate MoM [Dataset]. https://tradingeconomics.com/saudi-arabia/inflation-rate-mom
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    csv, json, excel, xmlAvailable download formats
    Dataset updated
    Sep 10, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 28, 1999 - Oct 31, 2025
    Area covered
    Saudi Arabia
    Description

    The Consumer Price Index in Saudi Arabia increased 0.30 percent in October of 2025 over the previous month. This dataset provides - Saudi Arabia Inflation Rate MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

  6. Saudi Arabia Inflation Forecast Dataset

    • focus-economics.com
    html
    Updated Jun 6, 2025
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    FocusEconomics (2025). Saudi Arabia Inflation Forecast Dataset [Dataset]. https://www.focus-economics.com/country-indicator/saudi-arabia/inflation/
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    htmlAvailable download formats
    Dataset updated
    Jun 6, 2025
    Dataset authored and provided by
    FocusEconomics
    License

    https://www.focus-economics.com/terms-and-conditions/https://www.focus-economics.com/terms-and-conditions/

    Time period covered
    2014 - 2025
    Area covered
    Saudi Arabia
    Variables measured
    forecast, saudi_arabia_inflation
    Description

    Monthly and long-term Saudi Arabia Inflation data: historical series and analyst forecasts curated by FocusEconomics.

  7. S

    Saudi Arabia Inflation, monthly percent change in the CPI, October, 2025 -...

    • theglobaleconomy.com
    csv, excel, xml
    Updated Oct 15, 2025
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    Globalen LLC (2025). Saudi Arabia Inflation, monthly percent change in the CPI, October, 2025 - data, chart | TheGlobalEconomy.com [Dataset]. www.theglobaleconomy.com/Saudi-Arabia/inflation_monthly/
    Explore at:
    excel, xml, csvAvailable download formats
    Dataset updated
    Oct 15, 2025
    Dataset authored and provided by
    Globalen LLC
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 29, 2000 - Oct 31, 2025
    Area covered
    Saudi Arabia
    Description

    Inflation, monthly percent change in the CPI in Saudi Arabia, October, 2025 The most recent value is 0.3 percent as of October 2025, an increase compared to the previous value of 0.03 percent. Historically, the average for Saudi Arabia from February 2000 to October 2025 is 0.19 percent. The minimum of -1.05 percent was recorded in January 2019, while the maximum of 5.87 percent was reached in July 2020. | TheGlobalEconomy.com

  8. F

    Inflation, consumer prices for Saudi Arabia

    • fred.stlouisfed.org
    json
    Updated Jul 2, 2025
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    (2025). Inflation, consumer prices for Saudi Arabia [Dataset]. https://fred.stlouisfed.org/series/FPCPITOTLZGSAU
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    jsonAvailable download formats
    Dataset updated
    Jul 2, 2025
    License

    https://fred.stlouisfed.org/legal/#copyright-public-domainhttps://fred.stlouisfed.org/legal/#copyright-public-domain

    Area covered
    Saudi Arabia
    Description

    Graph and download economic data for Inflation, consumer prices for Saudi Arabia (FPCPITOTLZGSAU) from 1964 to 2024 about Saudi Arabia, consumer, CPI, inflation, price index, indexes, and price.

  9. m

    Inflation_Rate - Saudi Arabia

    • macro-rankings.com
    csv, excel
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    macro-rankings, Inflation_Rate - Saudi Arabia [Dataset]. https://www.macro-rankings.com/selected-country-rankings/inflation-rate/saudi-arabia
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    csv, excelAvailable download formats
    Dataset authored and provided by
    macro-rankings
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Area covered
    Saudi Arabia
    Description

    Time series data for the statistic Inflation_Rate and country Saudi Arabia. Indicator Definition:Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.The statistic "Inflation Rate" stands at 1.69 percent as of 12/31/2024, the lowest value since 12/31/2020. Regarding the One-Year-Change of the series, the current value constitutes an decrease of -0.6392 compared to the value the year prior.The Serie's long term average value is 1.93 percent. It's latest available value, on 12/31/2024, is -0.246 lower, compared to it's long term average value.The Serie's change from it's minimum value, on 12/31/2019, to it's latest available value, on 12/31/2024, is +3.78 .The Serie's change in percentage points from it's maximum value, on 12/31/2008, to it's latest available value, on 12/31/2024, is -8.18.

  10. S

    Saudi Arabia CPI: Health: MP: Other Medical Products

    • ceicdata.com
    Updated Sep 15, 2025
    + more versions
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    CEICdata.com (2025). Saudi Arabia CPI: Health: MP: Other Medical Products [Dataset]. https://www.ceicdata.com/en/saudi-arabia/consumer-price-index-by-coicop-2018100/cpi-health-mp-other-medical-products
    Explore at:
    Dataset updated
    Sep 15, 2025
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 1, 2019 - Feb 1, 2020
    Area covered
    Saudi Arabia
    Description

    Saudi Arabia Consumer Price Index (CPI): Health: MP: Other Medical Products data was reported at 104.270 2018=100 in Feb 2020. This records an increase from the previous number of 102.220 2018=100 for Jan 2020. Saudi Arabia Consumer Price Index (CPI): Health: MP: Other Medical Products data is updated monthly, averaging 102.185 2018=100 from Jan 2018 (Median) to Feb 2020, with 26 observations. The data reached an all-time high of 105.020 2018=100 in Jun 2019 and a record low of 98.580 2018=100 in Apr 2018. Saudi Arabia Consumer Price Index (CPI): Health: MP: Other Medical Products data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.I001: Consumer Price Index: by COICOP: 2018=100.

  11. T

    Saudi Arabia Consumer Price Index (CPI)

    • tradingeconomics.com
    • it.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Sep 10, 2025
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    TRADING ECONOMICS (2025). Saudi Arabia Consumer Price Index (CPI) [Dataset]. https://tradingeconomics.com/saudi-arabia/consumer-price-index-cpi
    Explore at:
    excel, json, xml, csvAvailable download formats
    Dataset updated
    Sep 10, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Jan 31, 2013 - Oct 31, 2025
    Area covered
    Saudi Arabia
    Description

    Consumer Price Index CPI in Saudi Arabia increased to 104.10 points in October from 103.80 points in September of 2025. This dataset provides - Saudi Arabia Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

  12. S

    Saudi Arabia CPI: Mecca

    • ceicdata.com
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    CEICdata.com, Saudi Arabia CPI: Mecca [Dataset]. https://www.ceicdata.com/en/saudi-arabia/consumer-price-index-2018100-by-region/cpi-mecca
    Explore at:
    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 1, 2024 - Jan 1, 2025
    Area covered
    Saudi Arabia
    Description

    Saudi Arabia Consumer Price Index (CPI): Mecca data was reported at 112.390 2018=100 in Mar 2025. This records an increase from the previous number of 111.840 2018=100 for Feb 2025. Saudi Arabia Consumer Price Index (CPI): Mecca data is updated monthly, averaging 108.510 2018=100 from Feb 2020 (Median) to Mar 2025, with 62 observations. The data reached an all-time high of 112.390 2018=100 in Mar 2025 and a record low of 99.641 2018=100 in Mar 2020. Saudi Arabia Consumer Price Index (CPI): Mecca data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.I004: Consumer Price Index: 2018=100: by Region.

  13. k

    Saudi Arabia Inflation Rate (2018=100)

    • datasource.kapsarc.org
    • data.kapsarc.org
    csv, excel, json
    Updated Feb 16, 2022
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    (2022). Saudi Arabia Inflation Rate (2018=100) [Dataset]. https://datasource.kapsarc.org/explore/dataset/saudi-arabia-inflation-rate/
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    csv, json, excelAvailable download formats
    Dataset updated
    Feb 16, 2022
    Area covered
    Saudi Arabia
    Description

    This dataset is about the Inflation for Saudi Arabia for 2018- 2020 (Base year 2018). Data from Saudi Arabian Monetary Authority. Follow datasource.kapsarc.org for timely data to advance energy economics research.

  14. S

    Saudi Arabia CPI: Riyadh: HW: Actual Rentals for Housing

    • ceicdata.com
    + more versions
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    CEICdata.com, Saudi Arabia CPI: Riyadh: HW: Actual Rentals for Housing [Dataset]. https://www.ceicdata.com/en/saudi-arabia/consumer-price-index-2018100-by-region/cpi-riyadh-hw-actual-rentals-for-housing
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    Dataset provided by
    CEICdata.com
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 1, 2024 - Jan 1, 2025
    Area covered
    Saudi Arabia
    Description

    Saudi Arabia Consumer Price Index (CPI): Riyadh: HW: Actual Rentals for Housing data was reported at 154.460 2018=100 in Mar 2025. This records an increase from the previous number of 153.080 2018=100 for Feb 2025. Saudi Arabia Consumer Price Index (CPI): Riyadh: HW: Actual Rentals for Housing data is updated monthly, averaging 100.645 2018=100 from Feb 2020 (Median) to Mar 2025, with 62 observations. The data reached an all-time high of 154.460 2018=100 in Mar 2025 and a record low of 93.280 2018=100 in Jul 2021. Saudi Arabia Consumer Price Index (CPI): Riyadh: HW: Actual Rentals for Housing data remains active status in CEIC and is reported by General Authority for Statistics. The data is categorized under Global Database’s Saudi Arabia – Table SA.I004: Consumer Price Index: 2018=100: by Region.

  15. Medical cost inflation GCC 2019-2024, by country

    • statista.com
    Updated Nov 24, 2025
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    Statista (2025). Medical cost inflation GCC 2019-2024, by country [Dataset]. https://www.statista.com/statistics/1379477/gcc-medical-cost-inflation-by-country/
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    Dataset updated
    Nov 24, 2025
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    MENA
    Description

    Between 2019 and 2024, United Arab Emirates observed net inflation of medical costs at the rate of **** percent, which was the highest among the Gulf Cooperation Council (GCC) countries. The lowest health inflation rate was reported in Oman at *** percent.

  16. A

    Arabie saoudite Inflation, monthly percent change in the CPI, septembre,...

    • fr.theglobaleconomy.com
    csv, excel, xml
    Updated Sep 15, 2025
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    Globalen LLC (2025). Arabie saoudite Inflation, monthly percent change in the CPI, septembre, 2025 - data, chart | TheGlobalEconomy.com [Dataset]. fr.theglobaleconomy.com/Saudi-Arabia/inflation_monthly/
    Explore at:
    csv, xml, excelAvailable download formats
    Dataset updated
    Sep 15, 2025
    Dataset authored and provided by
    Globalen LLC
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Feb 29, 2000 - Sep 30, 2025
    Area covered
    Arabie saoudite
    Description

    Inflation, monthly percent change in the CPI in Arabie saoudite, septembre, 2025 Pour cet indicateur, General Authority for Statistics of Kingdom of Saudi Arabia fournit des données pour la Arabie saoudite de février 2000 à septembre 2025. La valeur moyenne pour Arabie saoudite pendant cette période était de 0.19 pour cent avec un minimum de -1.05 pour cent en janvier 2019 et un maximum de 5.87 pour cent en juillet 2020. | TheGlobalEconomy.com

  17. Gross domestic product (GDP) per capita in Mexico 2030

    • statista.com
    + more versions
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    Statista, Gross domestic product (GDP) per capita in Mexico 2030 [Dataset]. https://www.statista.com/statistics/263597/gross-domestic-product-gdp-per-capita-in-mexico/
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    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    Mexico
    Description

    The statistic depicts Mexico's gross domestic product (GDP) per capita from 1987 to 2020, with projections up until 2030. The GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator for the economic strength of a country. In 2020, Mexico's GDP per capita amounted to approximately 8,744.03 U.S. dollars. For further information, see Mexico's GDP. Economy of Mexico Mexico is the third largest economy in North America and is swiftly becoming a modernized nation with more industrial and service sectors to maintain and promote economic growth nationwide. Mexico is primarily an export-oriented economy and has seen constant growth in regards to the export of goods every year over the past decade, with the exception of 2009. Mexico is also considered to be one of the premier exporters in the world, exporting more goods and services than other export-prominent countries such as Saudi Arabia and India. Like many other industrial countries worldwide, Mexico experienced an economic downturn during the global financial crisis. Several indicators of Mexico’s economic slump would be a spike in unemployment as well as a significant drop in GDP in 2009. Additionally, inflation rates slightly increased over the course of 2 years. However, Mexico’s economy evidently recovered, in particular with its inflation rate, which reached a decade low, as well as its gross domestic product per capita, which attained decade high values, both in 2014.

  18. T

    Saudi Arabia House Price Index YoY

    • tradingeconomics.com
    • pl.tradingeconomics.com
    • +13more
    csv, excel, json, xml
    Updated Sep 9, 2025
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    TRADING ECONOMICS (2025). Saudi Arabia House Price Index YoY [Dataset]. https://tradingeconomics.com/saudi-arabia/house-price-index-yoy
    Explore at:
    csv, xml, json, excelAvailable download formats
    Dataset updated
    Sep 9, 2025
    Dataset authored and provided by
    TRADING ECONOMICS
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Time period covered
    Mar 31, 2015 - Sep 30, 2025
    Area covered
    Saudi Arabia
    Description

    House Price Index YoY in Saudi Arabia decreased to 1.30 percent in the third quarter of 2025 from 3.20 percent in the second quarter of 2025. This dataset includes a chart with historical data for Saudi Arabia House Price Index YoY.

  19. f

    Descriptive Statistics, Kuwait Stock Market Sectors.

    • plos.figshare.com
    xls
    Updated Sep 24, 2025
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    Talal Alotaibi; Lucía Morales (2025). Descriptive Statistics, Kuwait Stock Market Sectors. [Dataset]. http://doi.org/10.1371/journal.pone.0331384.t003
    Explore at:
    xlsAvailable download formats
    Dataset updated
    Sep 24, 2025
    Dataset provided by
    PLOS ONE
    Authors
    Talal Alotaibi; Lucía Morales
    License

    Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
    License information was derived automatically

    Area covered
    Kuwait
    Description

    Descriptive Statistics, Kuwait Stock Market Sectors.

  20. Food & beverages consumer spending worldwide 2024, by country

    • statista.com
    Updated Mar 22, 2024
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    Statista Research Department (2024). Food & beverages consumer spending worldwide 2024, by country [Dataset]. https://www.statista.com/study/165927/retail-sector-in-saudi-arabia/
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    Dataset updated
    Mar 22, 2024
    Dataset provided by
    Statistahttp://statista.com/
    Authors
    Statista Research Department
    Description

    China is leading the ranking by total consumer spending on food and non-alcoholic beverages , recording 1.7 trillion U.S. dollars. Following closely behind is the United States with 1.3 trillion U.S. dollars, while Belize is trailing the ranking with 322.55 million U.S. dollars, resulting in a difference of 1.7 trillion U.S. dollars to the ranking leader, China. Consumer spending, in this case food-related spending, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 01. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period. The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.

  21. Not seeing a result you expected?
    Learn how you can add new datasets to our index.

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Statista (2025). Inflation in Saudi Arabia since 1987 [Dataset]. https://www.statista.com/statistics/268062/inflation-in-saudi-arabia/
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Inflation in Saudi Arabia since 1987

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9 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Apr 15, 2025
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
Saudi Arabia
Description

The statistic shows the inflation rate in Saudi Arabia from 1987 to 2022, with projections up until 2030. In 2023, the average inflation rate amounted to 2.33 percent compared to the previous year. Oil production in Saudi Arabia Saudi Arabia’s economy relies heavily on production and export of oil and petroleum. A look at the distribution of global oil reserves by country shows that only Venezuela possesses a higher share in global oil reserves than the Arab state. All in all, Saudi Arabia’s economy is doing quite well. The oil reserves in Saudi Arabia have increased over the last two decades, and the same can be said for the country’s gross domestic product. The unemployment rate has been stable, while the trade balance has shown a steady upwards trend with a significant jump in 2011. Accordingly, Saudi Arabia’s national debt in relation to gross domestic product has been decreasing dramatically over the last ten years. Saudi Arabia is also among the countries with the highest oil consumption worldwide; a ranking of the share of the major consuming countries in global oil consumption, which is led by the United States (which consume almost one fifth of global oil), places Saudi Arabia sixth, behind the US, Russia, and China. Being one of the leading oil producing countries, Saudi Arabia is also a member of OPEC (Organization of the Petroleum Exporting Countries), an association whose primary goal is regulating crude oil prices worldwide and coordinating the oil production and trade of the member countries. According to OPEC, the average price for crude oil has been rising since the 1960s.

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