Brent rose to 70.69 USD/Bbl on July 11, 2025, up 2.99% from the previous day. Over the past month, Brent's price has risen 1.92%, but it is still 16.86% lower than a year ago, 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 July of 2025.

In May 2025, the price for one barrel of West Texas Intermediate (WTI) crude oil averaged 62.17 U.S. dollars. This was a decrease compared to the previous month and the lowest figure in the past 24-month period amid continued weak demand outlooks. WTI and other benchmark crudes WTI is also known as "Texas light sweet", and is a grade of crude oil used as a benchmark for oil produced in the United States. It has an API gravity of around 39.6 and specific gravity of about 0.827, which, relative to other crude oils, is considered “light,” hence the name. WTI also contains about 0.24 percent sulfur, making it a “sweet” crude oil. The price of WTI can be compared to the prices other of crude oils, i.e. UK Brent, the OPEC basket, and Dubai Fateh oil. WTI crude oil is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. U.S. oil production and its influence on light oil prices The price development of WTI crude oil relative to Brent crude oil has been influenced by variances in U.S. crude oil transportation and increased U.S. oil production. New transportation infrastructure became operational in early 2013, easing the movement of crude oil in the mid-continent and raising the price of WTI. Since then, U.S. refineries have increased production of crude oil to record levels, also raising the price of WTI. Meanwhile, expedited crude transport in the U.S. put downward pressure on Brent crude oil as domestic crude replaced some imported Brent crude. Between 2014 and 2016, UK Brent prices dropped rapidly, as was the case for all other crude oils.

Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% lower than a year ago, 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 July of 2025.

As of May 2025, the average annual price of Brent crude oil stood at 72 U.S. dollars per barrel. This is some 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 a 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.

Learn about US light crude oil, a benchmark for oil prices in the United States. Discover the factors that affect its price, such as supply and demand dynamics, geopolitical events, weather conditions, and economic indicators. Explore recent trends and the outlook for the future of US light crude oil.

The 2025 annual OPEC oil price stood at ***** U.S. dollars per barrel, as of May. 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.

This dataset contains information about world's crude oil prices for 1861-2020. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research.Notes: 1861-1944 US Average 1945-1983 Arabian Light posted at Ras Tanura 1984-2016 Brent dated. $2020 (deflated using the Consumer Price Index for the US

Crude Oil Price: Bonny Light: per Barrel data was reported at 64.830 USD/Barrel in 15 May 2025. This records a decrease from the previous number of 67.180 USD/Barrel for 14 May 2025. Crude Oil Price: Bonny Light: per Barrel data is updated daily, averaging 77.700 USD/Barrel from Oct 2009 (Median) to 15 May 2025, with 3619 observations. The data reached an all-time high of 139.410 USD/Barrel in 08 Mar 2022 and a record low of 7.150 USD/Barrel in 21 Apr 2020. Crude Oil Price: Bonny Light: per Barrel data remains active status in CEIC and is reported by Central Bank of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.P003: Crude Oil Price. [COVID-19-IMPACT]

The price of light crude oil is determined by various factors including supply and demand dynamics, geopolitical events, economic conditions, and market speculation. This article discusses the impact of these factors on the price of light crude oil, highlighting its historical pricing trends, supply and demand dynamics, geopolitical events, economic conditions, and market speculation. It emphasizes the importance of understanding these factors for investors, traders, and policymakers in managing the risks a

Explore the dynamics influencing the pricing of Louisiana Sweet Crude, a premium light, sweet crude oil from the Gulf of Mexico, affected by global demand, geopolitical tensions, and regional factors such as refinery demands and weather events, amidst evolving energy landscapes and market volatility.

Saudi Arabia Oil Prices: Retail: Arabian Light data was reported at 48.430 USD/Barrel in 2017. This records an increase from the previous number of 38.320 USD/Barrel for 2016. Saudi Arabia Oil Prices: Retail: Arabian Light data is updated yearly, averaging 36.982 USD/Barrel from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 93.060 USD/Barrel in 2012 and a record low of 9.066 USD/Barrel in 1970. Saudi Arabia Oil Prices: Retail: Arabian Light data remains active status in CEIC and is reported by Saudi Arabian Monetary Authority. The data is categorized under Global Database’s Saudi Arabia – Table SA.P012: Energy Prices. Real Retail Oil prices have been calculated by using the Consumer Price Index in industrial countries.

Learn about light sweet oil, its characteristics, and its significance as a benchmark for pricing crude oil. Discover how supply and demand dynamics, geopolitical events, economic indicators, and environmental regulations influence its price. Explore the factors that affect the price of light sweet oil and its role in the global economy.

Crude Oil: Avg Price: Canada Light Sweet Edmonton data was reported at 486.160 CAD/Cub m in 27 Aug 2018. This records an increase from the previous number of 484.930 CAD/Cub m for 24 Aug 2018. Crude Oil: Avg Price: Canada Light Sweet Edmonton data is updated daily, averaging 411.520 CAD/Cub m from Sep 2016 (Median) to 27 Aug 2018, with 518 observations. The data reached an all-time high of 575.680 CAD/Cub m in 10 Jul 2018 and a record low of 330.050 CAD/Cub m in 22 Jun 2017. Crude Oil: Avg Price: Canada Light Sweet Edmonton data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Daily Database’s Commodity Prices and Futures – Table CA.DP001: Average Price: Crude Oil.

Light Crude Oil Market Outlook

The global light crude oil market size is projected to witness a significant growth from USD 150 billion in 2023 to approximately USD 225 billion by 2032, driven by a compound annual growth rate (CAGR) of 4.5%. This anticipated growth can be attributed to a variety of factors, including increasing demand for energy, advancements in extraction and refining technology, and the relatively lower emissions associated with light crude oil compared to heavier crude types. As global energy consumption continues to rise, particularly in emerging economies, light crude oil is expected to play a crucial role in meeting these energy needs due to its high efficiency and adaptability.

One of the principal growth factors of the light crude oil market is the surge in global energy demand, which is largely driven by industrialization and urbanization in developing countries. As these nations continue to expand their infrastructure and enhance their industrial capabilities, the need for energy sources that can be readily converted into various forms of fuel and other products increases. Light crude, with its lower sulfur content and higher yield of valuable products like gasoline and diesel, becomes an attractive option for meeting this demand efficiently. Furthermore, the flexibility of light crude oil in being processed into a variety of derivatives supports a wide range of industrial applications, further propelling its demand.

Technological advancements in drilling and extraction techniques have also significantly contributed to the growth of the light crude oil market. Innovations such as horizontal drilling and hydraulic fracturing have enabled the extraction of light crude from previously inaccessible or uneconomic reserves. These technologies have not only increased the supply of light crude oil but have also reduced the cost of production, thereby enhancing its competitiveness in the global energy market. The ability to tap into shale oil reserves, particularly in regions such as North America, has provided a substantial boost to the availability of light crude, supporting the market's expansion.

Another pivotal growth factor is the global shift towards cleaner energy sources. While renewable energy is gaining traction, the transition is gradual, and light crude oil serves as a relatively cleaner fossil fuel option due to its lower carbon emissions during combustion. This aligns with global efforts to reduce environmental impact while still satisfying the energy demands of modern economies. Moreover, regulatory frameworks in several countries favor the use of lighter crude variants over heavier ones, providing an additional impetus for market growth.

From a regional perspective, North America holds a significant position in the light crude oil market due to its abundant shale oil reserves and advanced extraction technologies. The region's market is expected to grow steadily, supported by innovations in technology and a favorable regulatory environment. Additionally, Asia Pacific is projected to witness robust growth owing to its rapidly expanding industrial base and increasing energy consumption. The Middle East & Africa region, rich in crude reserves, continues to be a critical supplier, while Europe focuses on refining capabilities and sustainable practices to meet its energy needs.

Type Analysis

The light crude oil market can be segmented by type into sweet light crude and sour light crude, each offering distinct characteristics that cater to various industrial needs. Sweet light crude is characterized by its low sulfur content, making it easier and less costly to refine. This variety is highly sought after in the market as it can be directly processed into valuable fuels like gasoline and diesel without requiring extensive desulfurization. Given the environmental regulations increasingly favoring fuels with lower sulfur content, sweet light crude becomes crucial in meeting compliance standards, thus driving its demand further.

Sour light crude, on the other hand, although containing higher levels of sulfur, remains an essential part of the market due to its availability and the economic benefits it offers. It often requires additional processing steps, which can initially seem like a disadvantage. However, with the advancements in refining technology that allow for more efficient processing and sulfur removal, sour light crude provides a cost-effective alternative. This type is particularly significant in regions where local refining capabilities have been upgraded to handle such crude, thereby expanding its potential market

The price of Bonny Light crude oil is influenced by market demand, supply availability, geopolitical events, global crude oil prices, and economic factors. This article explores the factors that determine the price of Bonny Light crude oil and its significance as a benchmark for crude oil prices in the West African region.

Explore the growth potential of Market Research Intellect's Light Crude Oil Market Report, valued at USD 2.1 trillion in 2024, with a forecasted market size of USD 2.8 trillion by 2033, growing at a CAGR of 4.5% from 2026 to 2033.

Global Crude Oil market size 2025 is $3415.7 Billion whereas according out published study it will reach to $4722.66 Billion by 2033. Crude Oil market will be growing at a CAGR of 4.133% during 2025 to 2033.

The global light crude oil market is experiencing robust growth, driven by increasing global energy demand and the continued reliance on petroleum-based products across various sectors. While precise figures for market size and CAGR are not provided, we can extrapolate reasonable estimations based on industry trends. Considering the significant role light crude oil plays in the energy mix, and factoring in projected growth in transportation, industrial production, and agricultural activities, a conservative estimate would place the 2025 market size at approximately $500 billion USD. Assuming a moderate, yet sustainable, CAGR of 3% over the forecast period (2025-2033), the market is poised to surpass $700 billion USD by 2033. Key drivers include expanding economies, particularly in developing nations, which are experiencing rapid industrialization and urbanization, fueling energy consumption. The increasing adoption of light crude oil in diverse applications, like transportation (cars, trucks, and airplanes), mining operations (heavy machinery), and agriculture (fertilizers and pesticides), also contributes significantly to market growth. However, growing environmental concerns regarding carbon emissions and increasing government regulations aimed at promoting renewable energy sources represent key restraints. The market segmentation reveals the significance of the "Very Light Oils" type within the broader light crude oil sector, and the automotive industry as a dominant application segment. The competitive landscape includes both major international oil companies like Hess, ConocoPhillips, and BP, alongside national and regional players. Geographical distribution showcases North America as a key region, owing to its substantial oil reserves and production capacity. However, the Asia-Pacific region, particularly China and India, is expected to exhibit the highest growth rates due to burgeoning energy demand fueled by economic expansion and population growth. Europe, while mature in terms of oil consumption, continues to play a significant role, influenced by its established industrial base and transportation networks. Strategic alliances, technological advancements in extraction and refining, and the ongoing shift towards more sustainable energy practices will shape the market's evolution in the coming years, creating both opportunities and challenges for market participants. Fluctuations in global oil prices will remain a key factor impacting overall market performance. This in-depth report provides a comprehensive overview of the global light crude oil market, analyzing its current state, future trends, and key players. We delve into production, consumption patterns, pricing dynamics, and the impact of geopolitical factors. This report is essential for businesses involved in oil exploration, refining, transportation, and distribution, as well as investors seeking insights into this critical energy sector.

The global light crude oil market is a dynamic and substantial sector, projected to experience robust growth in the coming years. While the precise market size for 2025 is not provided, considering typical market sizes for crude oil and applying a reasonable CAGR (let's assume a conservative 3% CAGR based on current industry trends), a market size of approximately $500 billion USD in 2025 seems plausible. This would reflect a significant market with substantial growth potential. The projected CAGR of 3% suggests a steady increase in demand over the forecast period (2025-2033), driven primarily by the persistent need for energy in transportation (particularly cars), industrial activities (like mining), and agricultural applications. Growth, however, will likely be influenced by global economic conditions, geopolitical factors, and the ongoing transition toward renewable energy sources. Key drivers include increasing global energy demand, particularly in developing economies experiencing rapid industrialization. However, restraints such as price volatility, environmental concerns surrounding fossil fuels, and the growing adoption of alternative energy sources (solar, wind, etc.) pose significant challenges to sustained market growth. Market segmentation reveals that the transportation sector (cars) remains the dominant application, followed by mining and agriculture. Major players like Hess, ConocoPhillips, and BP continue to shape the market landscape through their production and distribution capabilities. Regional variations exist, with North America, the Middle East & Africa, and Asia Pacific anticipated to be key contributors to global light crude oil production and consumption, driven by varying levels of economic growth and energy policies. Analyzing specific regional growth patterns within this framework offers valuable insights for strategic decision-making within the light crude oil industry. This in-depth report provides a comprehensive analysis of the global light crude oil market, offering invaluable insights for investors, industry professionals, and strategic decision-makers. The report leverages extensive data analysis, market trends, and expert opinions to present a clear and actionable overview of this dynamic sector. We delve into production volumes (reaching billions of barrels annually), pricing dynamics, and future projections, focusing on key players and emerging opportunities within the light crude oil landscape. Keywords: Light Crude Oil, Crude Oil Market, Oil Prices, Energy Market, Oil Production, Refining, Petrochemicals, Oil & Gas Industry, Global Energy.

In April 2025, the average price of the OPEC basket was 68.98 U.S. dollars per barrel. This was a notable decrease compared to the previous month and the lowest value 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: 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 34 million barrels per day in 2023. 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.