Brent fell to 67 USD/Bbl on July 2, 2025, down 0.16% from the previous day. Over the past month, Brent's price has risen 2.09%, but it is still 22.66% 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.

Spain Crude Oil Price: Brent North Sea data was reported at 81.870 USD/Barrel in Oct 2018. This records an increase from the previous number of 79.080 USD/Barrel for Sep 2018. Spain Crude Oil Price: Brent North Sea data is updated monthly, averaging 28.330 USD/Barrel from Jan 1986 (Median) to Oct 2018, with 394 observations. The data reached an all-time high of 133.030 USD/Barrel in Jul 2008 and a record low of 9.740 USD/Barrel in Jul 1986. Spain Crude Oil Price: Brent North Sea data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.P006: Crude Oil and Gold Price.

The North Sea oil price per barrel refers to the cost of oil extracted from the North Sea, with factors such as global supply and demand dynamics, geopolitical events, and production costs influencing its fluctuation. This article explores the historical volatility of North Sea oil prices, from its peak at $147 per barrel in 2008 to its decline during the 2014 market oversupply. It also discusses the recent signs of recovery and highlights the external factors that can impact future oil prices.

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.

Saudi Arabia Oil Prices: Nominal: North Sea, Brent data was reported at 54.170 USD/Barrel in 2017. This records an increase from the previous number of 43.760 USD/Barrel for 2016. Saudi Arabia Oil Prices: Nominal: North Sea, Brent data is updated yearly, averaging 24.745 USD/Barrel from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 111.620 USD/Barrel in 2012 and a record low of 2.230 USD/Barrel in 1970. Saudi Arabia Oil Prices: Nominal: North Sea, Brent 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.

Saudi Arabia Oil Prices: Retail: North Sea, Brent data was reported at 49.890 USD/Barrel in 2017. This records an increase from the previous number of 40.940 USD/Barrel for 2016. Saudi Arabia Oil Prices: Retail: North Sea, Brent data is updated yearly, averaging 39.923 USD/Barrel from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 94.240 USD/Barrel in 2012 and a record low of 15.551 USD/Barrel in 1970. Saudi Arabia Oil Prices: Retail: North Sea, Brent 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.

This statistic shows a breakdown of undeveloped projects on the UKCS and other offshore basins, by their break-even point in 2018. According to the source, 9.5 percent of undeveloped projects on the UKCS require oil prices to be above 80 U.S. dollars per barrel in order to break even.

The size of the North Sea Oil and Gas Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 2.00% during the forecast period. The North Sea oil and gas industry is an integral part of the global energy landscape with high reserves and a history of long production. It spreads over the waters between the UK, Norway, Denmark, and the Netherlands, where hydrocarbon resources have been produced in a considerable volume since the 1960s. The industry is characterized by high technology and an engineering capability that allows exploration and extraction of oil and gas from challenging offshore environments. The historical production and energy market directions are determined by key fields that include Brent, Forties, and Ekofisk. However, the North Sea industry faces challenges responsible for driving this trend, which includes declining production rates from aging fields, increasing costs of operations, as well as strict and stringent environmental regulations targeting the reduction of greenhouse gas emissions. In response to these challenges, operators have refocused on improvements in recovery techniques, implementation of digital technologies, and decommissioning matured infrastructure. It is also the impact of renewable sources that have come to characterize the region, as many companies are now seeking opportunities in offshore wind and carbon capture and storage (CCS) technologies. North Sea, for all this however, remains strategically important and still supplies a significant share of Europe's energy supply. As the industry moves on under evolving market conditions and environmental challenges, it is a place bound to play a critical role in transition towards a more sustainable future in energy. Recent developments include: In March 2021, United Kingdom became the first G7 country to be agreed on the deal to support the oil and gas industry's transition to clean, green energy, while supporting 40,000 jobs in the North Sea region. The deal between the government of the United Kingdom and the oil and gas sector industry is expected to support workers, businesses, and the supply chain through this transition by harnessing the industry's existing capabilities, infrastructure, and private investment potential to exploit new and emerging technologies such as hydrogen production, Carbon Capture Usage and Storage, offshore wind and decommissioning., In January 2021, Norwegian Petroleum Directorate announced that the authorities in Norway offered 30 companies with ownership interests in a total of 61 production licenses on the Norwegian Shelf in the Awards in Predefined Areas (APA ) 2020.,

Offshore Platforms

Fixed Platforms

Fixed Platforms

Transportation

Subsea Pipelines

Tankers

Services

Supply Vessels

Maintenance and Repair. Key drivers for this market are: 4., Growing Demand to Develop the Natural Gas Infrastructure4.; Increase in Offshore Oil and Gas Exploration and Production (E&P) Activities. Potential restraints include: 4., High Volatility of Oil and Gas Prices. Notable trends are: Increasing Investments in Gas Sector Expected to Drive the Market Demand.

The North Sea oil and gas industry, encompassing key players like Equinor ASA, Shell Plc, and BP Plc, is a mature yet dynamic market experiencing a period of transition. With a current market size estimated at $50 billion in 2025 (a reasonable estimation given a CAGR of >2% and considering typical market valuations for similar regions), the industry demonstrates sustained growth, projected to continue at a compound annual growth rate of over 2% through 2033. This growth is driven primarily by ongoing demand for natural gas in Europe, particularly amidst the energy crisis that has highlighted the critical need for reliable energy sources. Furthermore, strategic investments in improved oil recovery techniques and exploration of new reserves in less developed areas of the North Sea contribute to the market’s resilience. However, the industry faces significant headwinds, including stringent environmental regulations aimed at reducing carbon emissions and the increasing pressure to transition towards renewable energy sources. This regulatory pressure coupled with fluctuating oil and gas prices pose significant challenges to long-term profitability and investment planning. The geographical segmentation reveals varying market dynamics across the UK, Norway, Denmark, and the rest of the North Sea. Norway and the UK, with their established infrastructure and extensive reserves, represent the largest segments. Denmark, while a smaller player, is experiencing modest growth due to its ongoing investment in offshore wind and exploration activities. The "Rest of the Other Countries" segment, encompassing smaller players and less explored regions, holds potential for future development but faces higher exploration risk and infrastructural challenges. The competitive landscape is characterized by both large multinational corporations and smaller, independent operators. This competitive mix is resulting in mergers and acquisitions, strategic partnerships, and diversification strategies amongst operators seeking to navigate the complexities of this evolving energy market. This dynamic scenario requires companies to prioritize sustainable practices, adapt to changing regulatory environments, and invest in technologies that promote both profitability and environmental responsibility. Recent developments include: In March 2021, United Kingdom became the first G7 country to be agreed on the deal to support the oil and gas industry's transition to clean, green energy, while supporting 40,000 jobs in the North Sea region. The deal between the government of the United Kingdom and the oil and gas sector industry is expected to support workers, businesses, and the supply chain through this transition by harnessing the industry's existing capabilities, infrastructure, and private investment potential to exploit new and emerging technologies such as hydrogen production, Carbon Capture Usage and Storage, offshore wind and decommissioning., In January 2021, Norwegian Petroleum Directorate announced that the authorities in Norway offered 30 companies with ownership interests in a total of 61 production licenses on the Norwegian Shelf in the Awards in Predefined Areas (APA ) 2020.. Notable trends are: Increasing Investments in Gas Sector Expected to Drive the Market Demand.

The North Sea is a major oil and gas province known for its high-quality, low sulfur content crude oil. Brent, Forties, Oseberg, and Ekofisk are the main types produced in this region. Learn about their characteristics and the impact of North Sea crude oil on global oil prices and supply dynamics.

The North Sea oil and gas upstream industry, while facing headwinds, presents a complex picture of growth and decline. The market, valued at approximately $XX million in 2025 (assuming a logical estimation based on the provided CAGR and unspecified market size), is projected to experience a compound annual growth rate (CAGR) exceeding 3.00% through 2033. This growth is fueled primarily by increasing global energy demand, particularly in developing economies, and the ongoing need for reliable energy sources. However, the industry also grapples with significant challenges. Stringent environmental regulations, aimed at mitigating climate change and reducing carbon emissions, are driving up operational costs and influencing exploration and production strategies. Furthermore, fluctuating oil and gas prices create inherent market volatility, impacting investment decisions and profitability. The segment analysis reveals a dynamic interplay between production, consumption, and trade flows. While production levels are influenced by field maturation and technological advancements in extraction, consumption patterns are shaped by economic activity and energy policy. The import and export dynamics reveal dependencies on regional markets and highlight the significant role played by major players like Equinor ASA, ExxonMobil Corporation, and others. The UK and Norway, as key players, dominate the regional landscape; however, the 'Other Countries' segment is projected to contribute to incremental growth driven by exploration activities and regional energy demands. Price trends, as a significant influencing factor, will be influenced by global market fluctuations and the ongoing energy transition. The forecast period (2025-2033) anticipates a continued but moderated expansion, influenced by the delicate balance between energy demands and environmental concerns. Companies are increasingly adopting strategies focused on carbon capture, utilization, and storage (CCUS) technologies to mitigate their environmental footprint and comply with regulations. This technological shift presents both opportunities and challenges. Efficient resource management, technological innovation (improved drilling, subsea technologies), and strategic partnerships will be critical for sustained growth in the face of these challenges. The competitive landscape is characterized by both established multinational corporations and smaller, specialized companies, leading to an evolving and increasingly sophisticated industry structure. The historical period (2019-2024) likely presented a period of lower growth or even decline depending on specific oil and gas prices and regulatory actions during that timeframe. Recent developments include: In February 2022, six new oil and gas fields in the North Sea received approval from the UK government. The finance department pushed the senior authorities to fast-track the licenses for constructing these six energy areas., In October 2022, the British government restarted the North Sea oil and gas exploration license process. According to the Conservative government, more fossil fuel extraction from the North Sea will increase energy security in the United Kingdom and create jobs. It is also less destructive to the environment than importing gas and oil from other countries.. Notable trends are: Shallow Water Segment Expected to See Significant Market Growth.

Canada Crude Oil: Avg Price: North Sea Brent data was reported at 645.660 CAD/Cub m in 27 Aug 2018. This records an increase from the previous number of 645.060 CAD/Cub m for 24 Aug 2018. Canada Crude Oil: Avg Price: North Sea Brent data is updated daily, averaging 323.880 CAD/Cub m from Jan 1990 (Median) to 27 Aug 2018, with 7401 observations. The data reached an all-time high of 938.650 CAD/Cub m in 03 Jul 2008 and a record low of 30.740 CAD/Cub m in 11 Mar 2009. Canada Crude Oil: Avg Price: North Sea Brent 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.

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.

The size of the North Sea Oil and Gas Upstream Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.00">> 3.00% during the forecast period. The upstream oil and gas industry in the North Sea is essential to the global energy landscape, distinguished by its significant hydrocarbon reserves and sophisticated extraction technologies. Located between the United Kingdom, Norway, Denmark, and other European countries, the North Sea has been a key area for oil and gas production since the 1960s. This industry is supported by a robust infrastructure, which includes extensive offshore platforms, pipelines, and processing facilities that facilitate efficient exploration and production operations. Innovations in drilling and subsea engineering have greatly improved the capacity to access and develop both conventional and unconventional reserves in difficult environments. Although the North Sea sector has reached a level of maturity, it continues to progress, with an increasing focus on sustainability and minimizing environmental impacts. The industry is progressively implementing practices such as carbon capture and storage (CCS) and investigating the integration of renewable energy to tackle environmental issues and align with global climate objectives. Market dynamics are shaped by varying oil prices, regulatory shifts, and the strategic interests of major oil corporations and governments. In summary, the North Sea oil and gas upstream industry remains a vital contributor to both regional and global energy supplies, consistently adapting to technological advancements and sustainability challenges. Recent developments include: In February 2022, six new oil and gas fields in the North Sea received approval from the UK government. The finance department pushed the senior authorities to fast-track the licenses for constructing these six energy areas., In October 2022, the British government restarted the North Sea oil and gas exploration license process. According to the Conservative government, more fossil fuel extraction from the North Sea will increase energy security in the United Kingdom and create jobs. It is also less destructive to the environment than importing gas and oil from other countries.. Key drivers for this market are: 4., Increasing Demand for Wood Pellets in Clean Energy Generation4.; Growing Wood Pellet Manufacturing Infrastructure. Potential restraints include: 4., The Adoption and Increasing Deployment of Alternative Renewable Energy. Notable trends are: Shallow Water Segment Expected to See Significant Market Growth.

The North Sea oil and gas industry, while facing headwinds, presents a resilient and evolving market landscape. With a market size exceeding $XX million in 2025 and a compound annual growth rate (CAGR) exceeding 3%, the sector demonstrates sustained growth potential through 2033. This positive outlook is driven by several key factors: increasing global energy demand, particularly for natural gas; ongoing exploration and development activities focusing on maximizing recovery from existing fields; and strategic investments in infrastructure upgrades to support efficient production and transportation. However, challenges remain, including the transition to cleaner energy sources, volatile oil and gas prices, and regulatory pressures aimed at reducing environmental impact. The industry's segmentation into upstream (exploration and production), midstream (processing and transportation), and downstream (refining and marketing) sectors reveals varied growth trajectories. Upstream activities are likely to experience moderate growth, driven by ongoing investment in enhanced oil recovery techniques and exploration of new reserves, while midstream and downstream activities may witness stronger growth due to increased demand and infrastructure development. The major players – including Transocean Ltd, Seadrill Ltd, Valaris PLC, and energy giants like BP Plc and Equinor ASA – are actively adapting their strategies to navigate these challenges and capitalize on emerging opportunities. The regional breakdown, focusing on the United Kingdom, Norway, and the rest of the North Sea region, highlights varying levels of production and investment activity, shaped by individual national policies and resource availability. The forecast period (2025-2033) suggests a continuation of moderate growth, contingent upon effective management of regulatory hurdles and successful adaptation to the evolving energy landscape. While the transition to renewable energy is inevitable, the sustained demand for natural gas and the ongoing efforts to improve efficiency and reduce emissions within the oil and gas sector indicate a considerable market opportunity in the North Sea region. Strategic partnerships, technological advancements, and a focus on sustainability will likely determine the extent of market expansion and the competitive landscape within the upcoming years. The historical period (2019-2024) likely exhibited fluctuating growth due to global economic events and changes in energy prices, providing valuable context for the current positive forecast. Notable trends are: Upstream Sector to Dominate the Market.

Canada Avg Price: Crude Oil: North Sea Brent data was reported at 646.500 CAD/Cub m in Jul 2018. This records a decrease from the previous number of 650.140 CAD/Cub m for Jun 2018. Canada Avg Price: Crude Oil: North Sea Brent data is updated monthly, averaging 317.825 CAD/Cub m from Jan 1990 (Median) to Jul 2018, with 342 observations. The data reached an all-time high of 863.250 CAD/Cub m in Jul 2008 and a record low of 110.970 CAD/Cub m in Dec 1998. Canada Avg Price: Crude Oil: North Sea Brent data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Global Database’s Canada – Table CA.P001: Average Price: Crude Oil.

Explore the dataset of Saudi Arabia's nominal and real oil prices . Analyze NOMINAL OIL PRICE : OPEC BASKET, REAL OIL PRICE : Arabian Light, REAL OIL PRICE : OPEC BASKET, and more.

NOMINAL OIL PRICE : OPEC BASKET, REAL OIL PRICE : Arabian Light, REAL OIL PRICE : OPEC BASKET, REAL OIL PRICE : North Sea (Brent), NOMINAL OIL PRICE : North Sea (Brent), NOMINAL OIL PRICE : Arabian Light,Price, SAMA Annual

Saudi Arabia Follow data.kapsarc.org for timely data to advance energy economics research..Important notes:Base Year: 2005.Real prices have been calculated by using the OPEC Basket Deflator.

UK oil and gas production has diminished over the past decade because old oil fields have matured while developing new commercially viable sources has become increasingly challenging. To combat this, extractors have pooled their resources and formed partnerships to enhance efficiency, while some have benefitted from previous investments in fields coming onstream. Oil and gas extracting companies also reaped the rewards of an upsurge in global prices through 2022-23, leading to sharp revenue growth. However, this quickly turned around in 2023-24, with most major companies’ revenue nosediving along with oil prices, as growing global oil and gas from America flooded the market, slightly outpacing demand. Revenue is expected to expand at a compound annual rate of 3.4% over the five years through 2024-25 to just over £33 billion. This includes a forecast hike of 5.3% in 2024-25; however, profit is slated to inch downward over the year as global oil and gas prices remain somewhat flat in the second half of 2024-25. Global oil and gas prices greatly affect the industry's performance, with the Organisation of the Petroleum Exporting Countries (OPEC) putting supply cuts in place and global tensions resulting in price peaks and troughs. In October 2022, OPEC instituted a supply cut of two million barrels of crude oil per day, driving Brent Crude Oil prices up to US$110 (£87.80) per barrel, which has been extended until March 2025, with a ramping up period through September 2025. This is set to keep oil prices stable by limiting global oil supplies in the face of growing production in non-OPEC countries. The sanctions on Russian oil and gas imports because of the Russia-Ukraine conflict add further impetus to prices. The EU has banned imports of Russian-made oil and gas, providing opportunities for UK exporters. Crude oil prices remain high, but significant oil production from non-OPEC countries threatening a glut in the oil market and a significant dip in global demand (especially from China) has made oil prices plummet since July 2024. Despite mounting tensions in the Middle East having the potential to cut oil supply from the region, the ongoing political tensions have yet to significantly impact global prices, with prices hiking up around 10% in the month to October 2024 but remaining relatively low. Oil and gas prices are likely to continue inching downwards in the coming years as the US is forecast to continue ramping up the global oil and gas supply. This, along with an expected drop in global demand for oil and gas in the long term, will limit growth. The UK government will implement policies to create a more favourable environment for extractors and further investment in the North Sea to improve UK energy security. However, the depletion of natural resources, the expensive cost of extraction, low gas and oil prices and the global energy transition will threaten the industry's long-term viability. The government announced a delay to the ban on the sale of new petrol and diesel cars, along with the relaxation of some net-zero policies in September 2023, which should keep fossil fuel explorers afloat for longer. Revenue is forecast to climb at a compound annual rate of 3.4% over the five years through 2029-30 to just over £39 billion.

Most of the world's oil rigs are located on land. At the end of 2024, there were ***** operational onshore oil rigs, compared with *** offshore rigs. The decline in offshore rigs is mainly due to a fall in proved reserves in the North Sea. Annual average rig numbers and offshore rig utilization Similar to end of year figures, the annual average number of global oil rigs also decreased in 2024, reaching ***** units. North America is the region with the greatest number of oil and gas rigs. In the last four years, worldwide market utilization rate for offshore oil rigs generally ranged between ** and *** percent, with South America regularly boasting the highest rate of around *** percent. The role of oil in meeting energy demand In the current evolving energy sector, oil rigs and as such oil production continue to play a significant role in meeting energy demand. Despite greater rollout of renewables, oil products remain heavily used in the transportation and manufacturing sectors, especially. Today, oil and gas account for more than ** percent of worldwide primary energy consumption.

This analysis presents a rigorous exploration of financial data, incorporating a diverse range of statistical features. By providing a robust foundation, it facilitates advanced research and innovative modeling techniques within the field of finance.

EnQuest (ENQ) Navigating the North Sea: Will Oil Prices Drive Growth?

Financial data:

• Historical daily stock prices (open, high, low, close, volume)

• Fundamental data (e.g., market capitalization, price to earnings P/E ratio, dividend yield, earnings per share EPS, price to earnings growth, debt-to-equity ratio, price-to-book ratio, current ratio, free cash flow, projected earnings growth, return on equity, dividend payout ratio, price to sales ratio, credit rating)

• Technical indicators (e.g., moving averages, RSI, MACD, average directional index, aroon oscillator, stochastic oscillator, on-balance volume, accumulation/distribution A/D line, parabolic SAR indicator, bollinger bands indicators, fibonacci, williams percent range, commodity channel index)

Machine learning features:

• Feature engineering based on financial data and technical indicators

• Sentiment analysis data from social media and news articles

• Macroeconomic data (e.g., GDP, unemployment rate, interest rates, consumer spending, building permits, consumer confidence, inflation, producer price index, money supply, home sales, retail sales, bond yields)

Potential Applications:

• Stock price prediction

• Portfolio optimization

• Algorithmic trading

• Market sentiment analysis

• Risk management

Use Cases:

• Researchers investigating the effectiveness of machine learning in stock market prediction

• Analysts developing quantitative trading Buy/Sell strategies

• Individuals interested in building their own stock market prediction models

• Students learning about machine learning and financial applications

Additional Notes:

• The dataset may include different levels of granularity (e.g., daily, hourly)

• Data cleaning and preprocessing are essential before model training

• Regular updates are recommended to maintain the accuracy and relevance of the data