As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

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

This statistic shows the average annual price of fish oil worldwide from 2015 to 2019 (in U.S. dollars per metric ton). Average price of fish oil from January to December 2016 was about 1,700 U.S. dollars per metric ton, decreasing from 1,802 dollars per metric ton in the previous year.

The article provides an overview of the oil price in 2015, highlighting factors such as oversupply, declining global demand, and geopolitical events that influenced the market. It discusses the volatility of oil prices throughout the year and showcases the downward trend in the first half followed by a gradual recovery in the second half. The article mentions the average price of Brent crude oil for the year and describes the spikes and troughs in the oil price chart for 2015.

This dataset contains information about world's spot oil prices for 1972-2020. Data from BP. Follow datasource.kapsarc.org for timely data to advance energy economics research. Notes:
* 1972 - 1985 Arabian Light, 1986 - 2020 Dubai dated.

† 1976 -1983 Forties, 1984 -2020 Brent dated.‡ 1976 -1983 Posted WTI prices, 1984 - 2020 Spot WTI (Cushing) prices.

Average Crude Oil Spot Price 2015 -2024

approximated based on an equally weighted price of the WTI Crude Oil Price, Brent Crude Oil Price, and Dubai Crude Oil Price

Granularity: month

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Analysis of the fluctuating crude oil prices in 2015, from multi-year lows to a partial recovery, and ending the year at similar levels, impacted by oversupply and global economic concerns.

This statistic displays a global forecast on oil prices by quarter in 2015, for UK Brent and West Texas Intermediate (WTI). In the first quarter of 2015, Brent oil prices is predicted to reach ** U.S. dollars per barrel.

About the projectIn collaboration with KAPSARC and OIES, Clingendael International Energy Programme (CIEP) hosted a workshop in the Hague in March 2015. It was conducted under the rule of capturing the discussion on a non-attribution basis. Thirty eight international and local experts participated.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 67.83 U.S. dollars per barrel as of August. This would be nine U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

United Kingdom BOE Forecast: Brent Crude Oil Price data was reported at 71.000 USD/Barrel in 2021. This records a decrease from the previous number of 74.000 USD/Barrel for 2020. United Kingdom BOE Forecast: Brent Crude Oil Price data is updated yearly, averaging 72.500 USD/Barrel from Dec 2014 (Median) to 2021, with 8 observations. The data reached an all-time high of 81.000 USD/Barrel in 2018 and a record low of 43.000 USD/Barrel in 2015. United Kingdom BOE Forecast: Brent Crude Oil Price data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.P009: Crude Oil and Gas Prices: Forecast.

Retail Price: DCA: Daily: Mustard Oil: Karnataka data was reported at 177.610 INR/kg in 17 May 2025. This records a decrease from the previous number of 178.560 INR/kg for 16 May 2025. Retail Price: DCA: Daily: Mustard Oil: Karnataka data is updated daily, averaging 156.930 INR/kg from Mar 2015 (Median) to 17 May 2025, with 3000 observations. The data reached an all-time high of 207.640 INR/kg in 06 Mar 2022 and a record low of 95.000 INR/kg in 13 Apr 2015. Retail Price: DCA: Daily: Mustard Oil: Karnataka data remains active status in CEIC and is reported by Department of Consumer Affairs. The data is categorized under India Premium Database’s Price – Table IN.PC057: Retail Price: Department of Consumer Affairs: Agriculture Commodities: Daily: by States: Mustard Oil.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

This statistic shows the average annual price of fish oil in Peru from 2015 to 2018 (in U.S. dollars per metric ton). Average price of fish oil in Peru from January to December 2016 was about 2,210 U.S. dollars per metric ton, up from 2,167 dollars per metric ton in the previous year.

United States US: Oil Rents: % of GDP data was reported at 0.051 % in 2016. This records an increase from the previous number of 0.049 % for 2015. United States US: Oil Rents: % of GDP data is updated yearly, averaging 0.404 % from Dec 1971 (Median) to 2016, with 46 observations. The data reached an all-time high of 3.031 % in 1980 and a record low of 0.049 % in 2015. United States US: Oil Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Land Use, Protected Areas and National Wealth. Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

Retail Price: DCA: Daily: Mustard Oil: Maharashtra data was reported at 184.440 INR/kg in 18 May 2025. This records a decrease from the previous number of 184.560 INR/kg for 16 May 2025. Retail Price: DCA: Daily: Mustard Oil: Maharashtra data is updated daily, averaging 126.750 INR/kg from Jan 2014 (Median) to 18 May 2025, with 3896 observations. The data reached an all-time high of 196.000 INR/kg in 14 May 2022 and a record low of 98.000 INR/kg in 08 May 2015. Retail Price: DCA: Daily: Mustard Oil: Maharashtra data remains active status in CEIC and is reported by Department of Consumer Affairs. The data is categorized under India Premium Database’s Price – Table IN.PC057: Retail Price: Department of Consumer Affairs: Agriculture Commodities: Daily: by States: Mustard Oil.

This article explores the significant fluctuations in crude oil prices over the last 10 years, influenced by various factors such as global economic conditions, political events, supply and demand dynamics, and market speculation. It examines the peak in mid-2014, the decline in 2015-2016, the partial stabilization in 2017-2018, and the period of decline in 2018-2019. The article also discusses the unprecedented challenges faced by the oil market in 2020 due to the covid-19 pandemic, leading to historic low

In 2023, the producer price index of crude oil and natural gas in Vietnam amounted to approximately 121.13 index points. In that year, the country's producer price index for the mining and quarrying industry was estimated at 210.42 points.

Zambia Commodity Price: Avg: Crude Oil data was reported at 74.250 USD/Barrel in Jul 2018. This records a decrease from the previous number of 74.400 USD/Barrel for Jun 2018. Zambia Commodity Price: Avg: Crude Oil data is updated monthly, averaging 48.900 USD/Barrel from Oct 2015 (Median) to Jul 2018, with 34 observations. The data reached an all-time high of 76.900 USD/Barrel in May 2018 and a record low of 30.800 USD/Barrel in Jan 2016. Zambia Commodity Price: Avg: Crude Oil data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s Zambia – Table ZM.P004: Average Copper and Crude Oil Price.