Crude Oil fell to 59.17 USD/Bbl on December 2, 2025, down 0.25% from the previous day. Over the past month, Crude Oil's price has fallen 3.08%, and is down 15.40% compared to the same time last year, 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 December of 2025.

Heating Oil rose to 2.35 USD/Gal on December 2, 2025, up 0.21% from the previous day. Over the past month, Heating Oil's price has fallen 2.25%, but it is still 6.31% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on December of 2025.

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.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% compared to the same time last year, 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 December of 2025.

In August 2025, the average price of one barrel of Brent crude oil was 67.87 U.S. dollars. This was a decrease from the previous month and 12 U.S. dollars below July 2024 prices. Brent terminology and most common uses Brent is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies and is also the most significant crude oil benchmark for Europe. Brent crude originates in the North Sea and includes oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both oil reserves in Norway. Other names for Brent are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent includes oil from the other three major oil fields. Brent, next to West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulfur, it is ranged among the so-called sweet crude oils. Most of the Brent crude oil is refined into gasoline and middle distillates in Northwest Europe. Benchmark oil prices Other crucial benchmarks for crude oil prices are the already mentioned U.S.- WTI and Dubai Crude (Fateh). They are indispensable for referencing the many types and grades of oil on the global market. In the past 20 years, the annual price for one barrel of Brent crude oil saw a net increase. For example, the average price per barrel stood at 80.53 U.S. dollars in 2024.

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.

Get the latest insights on price movement and trend analysis of Crude Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

View monthly updates and historical trends for Average Crude Oil Spot Price. Source: World Bank. Track economic data with YCharts analytics.

The gasoline price in the Philippines continued to fluctuate in 2023 and the first quarter of 2025, reaching 56.34 Philippine pesos per liter in April 2025. The retail price of petrol peaked between May and June 2022.   Which countries supply petroleum products to the Philippines? The refined petroleum products supply in the Philippines is mainly imported from South Korea, which accounts for 31 percent of the total import share. Singapore and China also provide a large share of the country’s petroleum product supply. Due to a dormant oil refining capacity, the production of petroleum refinery products in the Philippines has shown sluggish growth recently, further emphasizing the need for importing such products. Leading petroleum companies in the Philippines Shell Pilipinas Corporation held the highest share of the petroleum market in the Philippines, with a market share of about 16 percent in 2023. The company operated its petroleum refinery until 2020, when it decided to focus on imports. There is only one operating oil refinery in the country, which is run by the second-largest oil company – Petron Corporation.

Staying updated on crude oil prices is crucial for understanding the global economy's dynamics. Learn where to find real-time updates, market analysis, and historical price data, and how factors like supply and demand dynamics impact prices.

The global fuel energy price index stood at 157.89 index points in September 2025, up from 100 in the base year 2016. Figures decreased that month due to a fall in natural gas prices. 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. Tariffs bring economic uncertainty With the global economy having adjusted to the effects of the Russia-Ukraine war, new uncertainty has emerged due to tariffs imposed by the Trump administration. If these tariffs are fully implemented, global trade could be significantly disrupted, mainly the bilateral trade between the world’s two largest economies. In 2025, import tariffs between China and the United States exceeded 130 percent on both sides, while their tariffs on imports from the rest of the world were around 10 percent. U.S. tariffs on Chinese imported goods reached a high of 134.7 percent in April of that year, while China imposed a 147.6 percent tariff on U.S. goods. Early estimates indicate that the impact of Trump’s proposed tariffs on the U.S. economy could amount to 0.4 percent of GDP, mainly driven by the reduced trade with Mexico, Canada and China.

Avg Retail Price: Diesel Fuel: Quebec: Montreal data was reported at 180.100 0.01 CAD/l in Mar 2025. This records a decrease from the previous number of 189.400 0.01 CAD/l for Feb 2025. Avg Retail Price: Diesel Fuel: Quebec: Montreal data is updated monthly, averaging 100.100 0.01 CAD/l from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 246.100 0.01 CAD/l in May 2022 and a record low of 49.500 0.01 CAD/l in Jan 1996. Avg Retail Price: Diesel Fuel: Quebec: Montreal data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P015: Fuel Oil Price at Self Service Filling Stations. [COVID-19-IMPACT]

OECD Global Crude Oil Imports Prices

Regional and Temporal Trends

By OECD [source]

About this dataset

This dataset contains global crude oil import prices from the OECD. It provides important insight into international trading of oil and its related products, enabling users to analyse market trends and compare prices across different countries. This data is essential for understanding the development of different economies, as well as their dependence on crude oil imports. Through analysis of this dataset, users can understand the role that regional and global factors play in impacting global crude oil import prices over time. The dataset includes columns tracking country/region of origin (LOCATION), indicator measured (INDICATOR), subject tracked (SUBJECT), measure taken (MEASURE), frequency interval (FREQUENCY), time period covered (TIME) as well as numerical value and flag codes associated with the data captured in each row. This invaluable source is perfect for researchers looking to take a deep dive into international markets over time or academics studying the complexities surrounding trade in the energy sector!

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How to use the dataset

This dataset is a great resource for anyone looking to analyze the current and historical prices of crude oil imports from the OECD. The data contains prices from member countries of the OECD and is updated regularly. This dataset can be used to study long term trends in price as well as explore differences between countries with different levels of crude oil import demand.

• In order to make use of this dataset, it’s important to familiarize yourself with the column names and descriptions. The first column is LOCATION which indicates which country or region the data applies to. INDICATOR indicates what information is being displayed (e.g., import market share, import value, etc.). SUBJECT describes what category that metric falls into (e.g., fuel energy). MEASURE tells you whether an amount is expressed in a unit or currency while FREQUENCY says how often data has been collected: monthly, quarterly or annually (average monthly/quarterly/annual etc..). TIME displays measure period start date in year-month format and Value denotes numerical value for each row's measurement respectively while flag codes indicate if any values are estimates or outlier measurements that should be examined further before using them

• Using this understanding, one could filter their search by creating filters on these columns accordingly depending on their research topic such as – pulling all records for China for Q4 2019 - then apply sorting on “VALUE” column based on imported measurements have become cheaper during given time frame etc.. Additionally formulas like SUMIFS() can also be used across multiple columns available within this agreement document at same time such as – total Imports Value from India & Japan combined during May 2019 till October 2020 – based upon bringing together Matching condition criteria met across few columns where needed at same time . As such this dataset provides flexible solutions which potentially allow us to explore patterns related either just single country's current trends -or- cross references since global side-by-side evaluation possible here featuring more than just one nation alone too ...........

Research Ideas

• Analyzing the impact of changes in crude oil prices on global economic growth.
• Examining the evolving dynamics of crude oil trade flows between different countries and regions.
• Tracking trends in crude oil import prices across different industries to identify potential opportunities for cost savings and efficiency gains

Acknowledgements

If you use this dataset in your research, please credit the original authors. Data Source

License

License: Dataset copyright by authors - You are free to: - Share - copy and redistribute the material in any medium or format for any purpose, even commercially. - Adapt - remix, transform, and build upon the material for any purpose, even commercially. - You must: - Give appropriate credit - Provide a link to the license, and indicate if changes were made. - ShareAlike - You must distribute your contributions under the same license as the original. - Keep intact - all notices that refer to this license, including copyright notices.

Columns

File: crude_oil_import_prices.csv | Column name | Description ...

The price of petrol crude oil today is influenced by factors such as supply and demand, geopolitical events, and economic conditions. This article provides information on the benchmarks for crude oil pricing, Brent and WTI, and how they are affected by various factors. It also explains how the price of crude oil directly affects the price of petrol, and suggests sources for obtaining accurate and up-to-date information on petrol crude oil prices.

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

Palm Oil rose to 4,134 MYR/T on December 2, 2025, up 1.00% from the previous day. Over the past month, Palm Oil's price has risen 0.46%, but it is still 18.56% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palm Oil - values, historical data, forecasts and news - updated on December of 2025.

View monthly updates and historical trends for Crude Oil Price Index. Source: International Monetary Fund. Track economic data with YCharts analytics.

The price of US oil per barrel today is influenced by global supply and demand, geopolitical events, economic indicators, and market speculation. Learn about the factors that impact oil prices and their effects on the global economy.