Success.ai’s Oil & Gas Data with B2B CEO Contact Data for Global Energy Sector Executives offers businesses a powerful solution to connect with key decision-makers, influencers, and industry leaders across the energy spectrum. Drawing from over 170 million verified professional profiles, this dataset includes work emails, phone numbers, and enriched profiles of executives in oil and gas, renewable energy, utilities, and other energy-related sectors. Whether you’re targeting CEOs, operations managers, or sustainability directors, Success.ai ensures that you have the accurate and relevant information needed for effective outreach and strategic engagement.

Why Choose Success.ai’s Energy Sector Executive Data?

1. Comprehensive Contact Information
2. Access verified work emails, direct phone numbers, and LinkedIn profiles for executives and decision-makers in the global energy industry.

3. AI-driven validation ensures 99% accuracy, providing reliable data for sales, marketing, and partnership initiatives.

4. Global Reach Across Energy Verticals

5. Includes profiles of leaders in oil and gas, renewable energy, utilities, nuclear power, and emerging energy technologies.

6. Covers regions such as North America, Europe, Asia-Pacific, South America, and the Middle East, helping you connect with executives in established and emerging markets.

7. Continuously Updated Datasets

8. Real-time updates keep your data current, ensuring that your outreach remains timely, relevant, and competitive in a rapidly evolving industry.

9. Ethical and Compliant

10. Adheres to GDPR, CCPA, and other global data privacy regulations, ensuring that all outreach and engagement strategies are ethically sourced and legally compliant.

Data Highlights

• 170M+ Verified Professional Profiles: Includes energy sector executives, managers, and thought leaders worldwide.
• 50M Work Emails: AI-validated for precise and effective communication.
• 30M Company Profiles: Deep insights into energy companies and their key personnel for informed targeting.
• 700M Global Professional Profiles: Enriched datasets to support comprehensive, scalable business strategies.

Key Features of the Dataset:

1. Energy Sector Decision-Maker Profiles
2. Identify and engage with C-suite executives, operations managers, sustainability directors, and other key influencers in the energy sector.

3. Connect with professionals who shape policy, direct investments, and lead initiatives in traditional and renewable energy fields.

4. Advanced Filters for Precision Targeting

5. Filter by industry segment (oil, gas, wind, solar, hydro, nuclear), company size, geographic location, and specific roles to focus your outreach on relevant contacts.

6. Refine campaigns to maximize engagement and conversion rates.

7. AI-Driven Enrichment

8. Profiles enriched with actionable data deliver valuable insights, ensuring that each interaction is timely, informed, and impactful.

Strategic Use Cases:

1. Sales and Business Development
2. Present technology solutions, equipment, or consulting services directly to decision-makers in the energy sector.

3. Forge relationships with executives responsible for procurement, strategic partnerships, and operational efficiency.

4. Marketing and Brand Awareness

5. Launch targeted campaigns to promote energy-related software, sustainable energy solutions, or investment opportunities.

6. Leverage accurate contact data to increase engagement and drive better campaign results.

7. Investment and M&A Activities

8. Connect with key players in energy startups, established utilities, and global energy conglomerates exploring mergers, acquisitions, or investment deals.

9. Identify the right decision-makers to streamline negotiations and capital deployment.

10. Sustainable and Renewable Energy Initiatives

11. Engage leaders in the renewable energy space to foster partnerships, promote clean energy solutions, and encourage sustainable practices.

12. Position your business as a strategic ally in achieving long-term environmental and economic goals.

Why Choose Success.ai?

1. Best Price Guarantee

2. Access premium-quality verified data at competitive prices, ensuring maximum return on investment.

3. Seamless Integration

4. Incorporate the data into your CRM or marketing automation tools using APIs or custom download formats.

5. Data Accuracy with AI Validation

6. Trust in 99% data accuracy for confident decision-making, strategic targeting, and consistent outreach results.

7. Customizable and Scalable Solutions

8. Tailor datasets to meet your unique objectives, whether focusing on a specific region, energy vertical, or company size.

APIs for Enhanced Functionality:

1. Data Enrichment API

2. Enrich your existing records with verified contact data for energy sector executives, improving targeting and personalization.

3. Lead Generation API

4. Automate lead...

The global fuel energy price index stood at 188.62 index points in January 2025, up from 100 in the base year 2016. Figures increased that month due to a rise in crude oil prices as a result of new sanctions on Russian oil and greater heating fuel demand. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

Success.ai’s Energy Consumption Data for Middle-east Energy Professionals offers a comprehensive dataset tailored for businesses and organizations seeking to connect with leaders and decision-makers in the energy sector. Covering roles such as energy consultants, project managers, engineers, and executives, this dataset provides verified work emails, phone numbers, and detailed decision-maker profiles.

With access to over 700 million verified global profiles, Success.ai ensures your outreach, research, and collaboration strategies are powered by accurate, continuously updated, and AI-validated data. Backed by our Best Price Guarantee, this solution empowers you to navigate the dynamic and fast-evolving energy landscape in the Middle-east.

Why Choose Success.ai’s Energy Consumption Data?

1. Verified Contact Data for Precision Targeting

   • Access verified work emails, phone numbers, and LinkedIn profiles of energy sector professionals across the Middle-east.
   • AI-driven validation ensures 99% accuracy, improving engagement rates and minimizing errors in outreach.

2. Comprehensive Coverage Across the Middle-east

   • Includes professionals from key energy-producing countries such as Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
   • Gain insights into regional energy trends, consumption patterns, and emerging technologies.

3. Continuously Updated Datasets

   • Real-time updates capture changes in roles, organizational structures, and market developments.
   • Stay aligned with industry trends to identify opportunities and remain competitive in the energy sector.

4. Ethical and Compliant

   • Fully adheres to GDPR, CCPA, and other global privacy regulations, ensuring responsible and lawful data usage.

Data Highlights:

• 700M+ Verified Global Profiles: Connect with energy professionals and decision-makers across the Middle-east.
• Verified Contact Details: Gain work emails, phone numbers, and LinkedIn profiles for precise targeting.
• Decision-maker Profiles: Access profiles of executives, consultants, and project managers responsible for energy initiatives and consumption strategies.
• Industry Insights: Understand energy consumption trends, market challenges, and emerging technologies in the Middle-east.

Key Features of the Dataset:

1. Comprehensive Energy Professional Profiles

   • Identify and connect with professionals overseeing energy projects, regulatory compliance, and operational efficiency in the energy sector.
   • Target decision-makers involved in renewable energy, oil and gas, and energy infrastructure projects.

2. Advanced Filters for Precision Campaigns

   • Filter professionals by industry focus (renewables, oil and gas, utilities), geographic location, or job function.
   • Tailor campaigns to align with specific energy needs, such as efficiency improvements, technology adoption, or sustainability goals.

3. Regional and Sector-specific Insights

   • Leverage data on energy trends, regulatory frameworks, and consumption patterns in the Middle-east.
   • Refine marketing and outreach strategies to align with regional priorities and opportunities.

4. AI-Driven Enrichment

   • Profiles enriched with actionable data allow for personalized messaging, highlight unique value propositions, and improve engagement outcomes.

Strategic Use Cases:

1. Marketing Campaigns and Lead Generation

   • Promote energy solutions, technology innovations, or consultancy services to energy professionals in the Middle-east.
   • Use verified contact data for multi-channel outreach, including email, phone, and social media campaigns.

2. Partnership Development and Collaboration

   • Build relationships with energy companies, utilities, and regulatory agencies seeking strategic alliances or innovative solutions.
   • Foster collaborations that drive efficiency, sustainability, or renewable energy adoption.

3. Market Research and Competitive Analysis

   • Analyze energy consumption trends, technological advancements, and regulatory changes across the Middle-east.
   • Benchmark against competitors to identify market gaps and high-demand solutions.

4. Recruitment and Talent Acquisition

   • Target HR professionals and hiring managers recruiting for roles in energy management, engineering, or project leadership.
   • Provide workforce optimization platforms or training solutions tailored to the energy sector.

Why Choose Success.ai?

1. Best Price Guarantee

   • Access premium-quality energy consumption data at competitive prices, ensuring strong ROI for your outreach, marketing, and business development efforts.

2. Seamless Integration

   • Integrate verified energy data into CRM systems, analytics tools, or marketing platforms via APIs or downloadable formats, streamlining workflows and enhancing productivity.

3. Data Accuracy with AI Validation

   • Trust in 99%...

Refiner Price: Resale: EIA: No 2 Distillate: Fuel Oil data was reported at 2.114 USD/gal in Aug 2018. This records an increase from the previous number of 2.079 USD/gal for Jul 2018. Refiner Price: Resale: EIA: No 2 Distillate: Fuel Oil data is updated monthly, averaging 0.809 USD/gal from Jan 1983 (Median) to Aug 2018, with 428 observations. The data reached an all-time high of 3.802 USD/gal in Jul 2008 and a record low of 0.331 USD/gal in Feb 1999. Refiner Price: Resale: EIA: No 2 Distillate: Fuel Oil data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.

The global energy price index stood at around 106.9 in 2023. This was a decrease of 45 points compared to the previous year, when fuel and power demand increased as the economies recovered from the coronavirus pandemic. For 2024, forecasts suggest the price index would decrease to 104. Price indices show the development of prices for goods or services over time relative to a base year. Commodity prices may be dependent on various factors, from supply and demand to overall economic growth. Electricity prices around the world As with overall fuel prices, electricity costs for end users are dependent on power infrastructure, technology type, domestic production, and governmental levies and taxes. Generally, electricity prices are lower in countries with great coal and gas resources, as those have historically been the main sources for electricity generation. This is one of the reasons why electricity prices are lowest in resource-rich countries such as Qatar, Russia, and the United States. Meanwhile, many European governments that have introduced renewable surcharges to support the deployment of solar and wind power and are at the same time dependent on fossil fuels imports, have the highest household electricity prices. Benchmark oil prices One of the commodities found within the energy market is oil. Oil is the main raw material for all common motor fuels, from gasoline to kerosene. In resource-poor and remote regions such as Alaska, Hawaii, and Cyprus, it is also one of the largest sources for electricity generation. Benchmark oil prices such as Europe’s Brent, the United States' WTI, or the OPEC basket are often used as indicators for the overall energy price development.

Austria Energy Prices: Net: Annual Avg: Gas Oil: Industry data was reported at 1,053.710 EUR/Ton in 2022. This records an increase from the previous number of 515.870 EUR/Ton for 2021. Austria Energy Prices: Net: Annual Avg: Gas Oil: Industry data is updated yearly, averaging 429.171 EUR/Ton from Dec 2003 (Median) to 2022, with 20 observations. The data reached an all-time high of 1,053.710 EUR/Ton in 2022 and a record low of 228.799 EUR/Ton in 2003. Austria Energy Prices: Net: Annual Avg: Gas Oil: Industry data remains active status in CEIC and is reported by Statistics Austria. The data is categorized under Global Database’s Austria – Table AT.P001: Energy Prices: Annual Average.

Success.ai’s LinkedIn Data for Energy Professionals Worldwide provides a powerful dataset tailored to businesses and organizations aiming to connect with key decision-makers and professionals in the global energy sector. Covering roles such as energy consultants, project managers, engineers, and executives, this dataset offers verified LinkedIn profiles, work emails, professional histories, and actionable insights.

With access to over 700 million verified global profiles, Success.ai ensures your marketing, outreach, and partnership strategies are driven by accurate, continuously updated, and AI-validated data. Backed by our Best Price Guarantee, this solution empowers you to excel in the dynamic and evolving energy landscape.

Why Choose Success.ai’s LinkedIn Data?

1. Verified Contact Data for Precision Engagement

   • Access verified LinkedIn profiles, work emails, and professional histories of energy professionals worldwide.
   • AI-driven validation ensures 99% accuracy, minimizing inefficiencies and boosting engagement rates.

2. Comprehensive Coverage of the Global Energy Sector

   • Includes professionals from top energy hubs such as North America, Europe, the Middle East, and Asia-Pacific.
   • Gain insights into renewable energy initiatives, oil and gas operations, and emerging energy technologies.

3. Continuously Updated Datasets

   • Real-time updates ensure profiles remain accurate and reflect the latest career moves and industry changes.
   • Stay ahead of energy trends and capitalize on new opportunities effectively.

4. Ethical and Compliant

   • Fully adheres to GDPR, CCPA, and other global privacy regulations, ensuring responsible and lawful data usage.

Data Highlights:

• 700M+ Verified Global Profiles: Access LinkedIn profile data for energy professionals and decision-makers worldwide.
• Leadership Insights: Connect with energy executives, project managers, and consultants driving industry advancements.
• Verified Contact Details: Gain work emails and phone numbers for targeted outreach.
• Professional Histories: Understand career trajectories, areas of expertise, and contributions to the energy sector.

Key Features of the Dataset:

1. Comprehensive Energy Professional Profiles

   • Identify and connect with professionals involved in renewable energy, oil and gas, utilities, and energy infrastructure projects.
   • Target decision-makers responsible for sustainability initiatives, technology adoption, and operational efficiency.

2. Advanced Filters for Precision Campaigns

   • Filter professionals by industry focus (solar, wind, oil and gas, utilities), geographic location, or job function.
   • Tailor campaigns to align with specific energy market needs, such as efficiency improvements or regulatory compliance.

3. Regional and Industry Insights

   • Leverage data on global energy trends, consumption patterns, and technological innovations.
   • Refine marketing strategies and business outreach based on actionable insights specific to energy markets.

4. AI-Driven Enrichment

   • Profiles enriched with actionable data enable personalized messaging, highlight unique value propositions, and improve engagement outcomes.

Strategic Use Cases:

1. Marketing Campaigns and Lead Generation

   • Design targeted campaigns to promote energy solutions, renewable technologies, or consultancy services to energy professionals globally.
   • Use verified contact data for multi-channel outreach, including email, phone, and social platforms.

2. Partnership Development and Collaboration

   • Build relationships with energy companies, renewable energy providers, and utilities seeking strategic alliances.
   • Foster collaborations that enhance energy efficiency, expand renewable adoption, or improve grid resilience.

3. Market Research and Competitive Analysis

   • Analyze energy trends and technology adoption to refine product offerings, marketing strategies, and development plans.
   • Benchmark against competitors to identify growth opportunities and high-demand solutions.

4. Recruitment and Talent Acquisition

   • Target HR professionals and hiring managers in the energy sector recruiting for roles in engineering, project management, or sustainability.
   • Provide workforce optimization platforms or training solutions tailored to the energy industry.

Why Choose Success.ai?

1. Best Price Guarantee

   • Access premium-quality LinkedIn data at competitive prices, ensuring strong ROI for your marketing, outreach, and development efforts.

2. Seamless Integration

   • Integrate verified LinkedIn data into CRM systems, analytics tools, or marketing platforms via APIs or downloadable formats, enhancing productivity and streamlining workflows.

3. Data Accuracy with AI Validation

   • Trust in 99% accuracy to guide data-driven decisions, refine targeting, and boost conver...

Prices in US dollars per barrel of WCS oil and in Canadian dollars per gigajoule of natural gas.

United States Crude Oil Price: EIA: FOB Cost of Imports: Nigeria data was reported at 58.580 USD/Barrel in Oct 2017. This records an increase from the previous number of 52.180 USD/Barrel for Aug 2017. United States Crude Oil Price: EIA: FOB Cost of Imports: Nigeria data is updated monthly, averaging 24.410 USD/Barrel from Oct 1973 (Median) to Oct 2017, with 468 observations. The data reached an all-time high of 140.010 USD/Barrel in Jun 2008 and a record low of 6.000 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: FOB Cost of Imports: Nigeria data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.

The Average Home Heating Oil Prices dataset provides New York residents and businesses with objective information on average residential retail heating fuel oil pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by NYSERDA staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon. The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset. For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Home Heating Oil Prices Dashboard: https://www.nyserda.ny.gov/Researchers-and-Policymakers/Energy-Prices/Home-Heating-Oil/Average-Home-Heating-Oil-Prices The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, accelerate economic growth, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

Saudi Arabia Energy Spot Price: Saudi Crude Oil: Arabian Medium 31 API data was reported at 52.500 USD/Barrel in 2017. This records an increase from the previous number of 39.810 USD/Barrel for 2016. Saudi Arabia Energy Spot Price: Saudi Crude Oil: Arabian Medium 31 API data is updated yearly, averaging 26.020 USD/Barrel from Dec 1985 (Median) to 2017, with 33 observations. The data reached an all-time high of 109.820 USD/Barrel in 2012 and a record low of 11.580 USD/Barrel in 1998. Saudi Arabia Energy Spot Price: Saudi Crude Oil: Arabian Medium 31 API 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 Energy Spot Price: Saudi Crude Oil: Arabian Heavy 27 API data was reported at 51.050 USD/Barrel in 2017. This records an increase from the previous number of 38.360 USD/Barrel for 2016. Saudi Arabia Energy Spot Price: Saudi Crude Oil: Arabian Heavy 27 API data is updated yearly, averaging 25.200 USD/Barrel from Dec 1985 (Median) to 2017, with 33 observations. The data reached an all-time high of 108.360 USD/Barrel in 2012 and a record low of 10.950 USD/Barrel in 1998. Saudi Arabia Energy Spot Price: Saudi Crude Oil: Arabian Heavy 27 API 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.

As of the fourth quarter of 2024, oil prices in the United Kingdom stood at 74 dollars per barrel, with prices expected to rise to 76.6 dollars a barrel in early 2025, before gradually falling in subsequent quarters.

Have timely access to reliable Fuel Oil price assessments in Mexico:

• Fuel Oil (heavy), export spot price, fob, Mexico

Each assessment includes Fuel Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

Fuel Oil price assessments for Mexico and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.

United States Crude Oil Price: EIA: FOB Cost of Imports: Persian Gulf Nations data was reported at 69.280 USD/Barrel in Aug 2018. This records a decrease from the previous number of 70.190 USD/Barrel for Jul 2018. United States Crude Oil Price: EIA: FOB Cost of Imports: Persian Gulf Nations data is updated monthly, averaging 25.390 USD/Barrel from Oct 1973 (Median) to Aug 2018, with 497 observations. The data reached an all-time high of 124.370 USD/Barrel in Jun 2008 and a record low of 3.160 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: FOB Cost of Imports: Persian Gulf Nations data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.

As per Cognitive Market Research's latest published report, the Global Oil Exploration and Production market size is $3,588.98 Million in 2024 and it is forecasted to reach $5,116.57 Billion by 2031. Oil Exploration and Production Industry's Compound Annual Growth Rate will be 5.20% from 2024 to 2031. Market Dynamics of the Oil Exploration and Production Market

Market Driver for the Oil Exploration and Production Market

The increasing investment in oil sector by several government bodies worldwide elevates the market growth 

Many countries view a stable and secure energy supply as crucial for their economic development and national security. Investing in the oil sector helps ensure a reliable source of energy. Oil exploration and production contribute significantly to the economic growth of a country. Governments often invest in the oil sector to capitalize on the potential for high returns, which can be used to fund public services, infrastructure projects, and other essential programs. Despite efforts to transition to renewable energy sources, the global demand for oil remains high. Governments recognize the need to meet this demand and ensure a stable energy supply to support industrial processes, transportation, and other key sectors. The oil and gas industry encompasses activities linked to exploration, including the search for hydrocarbons, identification of high-potential areas for oil and gas extraction, test drilling, the construction of wells, and initial extraction. According to the Center on Global Energy Policy, data 2023, the 2021–22 period of high oil and gas prices did not lead to a significant increase in capital spending by private companies despite record profits. One exception has been upstream exploration and production (E&P) companies, whose capital spending in 2022 was the highest since 2014.   According to the International Labor Organization (ILO), data 2022, the oil and gas industry makes a significant contribution to the global economy and to its growth and development worldwide. The oil industry alone accounts for almost 3 per cent of global domestic product. The trade in crude oil reached US$640 billion in 2020, making it one of the world’s most traded commodities. Additionally, the industry is highly capital-intensive. Globally investments in oil and gas supply reached more than US$511 billion in 2020. According to the oil and gas industry outlook, data 2023, rapid recovery in demand, and geopolitical developments have driven oil prices to 2014 highs and upstream cash flows to record levels. In 2022, the global upstream industry is projected to generate its highest-ever free cash flows of $1.4 trillion at an assumed average Brent oil price of $106/bbl. Until now, the industry has practiced capital discipline and focused on cash flow generation and pay-out—2022 year-to-date average O&G production is up by 4.5% over the same period last year, while 2022 free cash flows per barrel of production is projected to be higher by nearly 70% over 2021. In addition, high commodity prices and growing concerns over energy security are creating urgency for many to diversify supply and accelerate the energy transition. As a result, clean energy investment by Oil &Gas companies has risen by an average of 12% each year since 2020 and is expected to account for an estimated 5% of total Oil & Gas capex spending in 2022, up from less than 2% in 2020.Therefore, investments made over recent decades enabled the United States to become a world leader in oil and natural gas production. Thus, owing to increased oil production, the demand for oil exploration and production has surged during the past few years.

The rising demand for oil across both commercial and residential sector is expected to drive the market growth 

Oil remains a primary source of energy for transportation, including cars, trucks, ships, and airplanes. The growing global population, urbanization, and increased industrial activity contribute to a rise in the number of vehicles and the overall demand for transportation fuels derived from oil, such as gasoline and diesel. Many industrial processes rely on oil and its by-products as energy sources and raw materials. Industries such as manufacturing, petrochemicals, and construction utilize oil-based products for various applications, including heating, power generation, and the production of pl...

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 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 2024 fall in prices was the result of weakened demand outlooks, primarily from China.