On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.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 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 (whereby a contract is agreed upon, while the 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.

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

The worldwide crude oil price index stood at 191.78 index points in 2024. This was a slight decrease compared to the previous year, when the price index stood at over 194 index points. The global crude oil index is determined by benchmark prices such as Brent, WTI, and Dubai Fateh.

In February 2025, the average price of the OPEC basket was 76.81 U.S. dollars per barrel. This was a decrease compared to the previous month. 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.

The price of orange oil in USA for Q4 2023 reached 16550 USD/MT in December. It encompasses an in-depth review of spot price of orange oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of orange oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The fuel oil prices in the USA reached 1047 USD/MT in December 2023. In December 2023, the priced of fuel oil in China settled at 758 USD/MT. In Germany, the fuel oil price reached 1237 USD/MT by the end of December 2023.

During the last quarter of 2024, the crude oil prices in the United States reached 61 USD/MT in December. The market saw changes in policy and supply chain interruptions influencing price fluctuations. Due to supply limitations after Libyan production halted and hurricane-related damage in the Gulf of Mexico, oil prices briefly increased in October.

Explore IMARC's latest publication, “Crude Oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the crude oil market, providing insights into both global and regional trends that are shaping prices.

Have timely access to reliable Crude Oil price assessments in Sweden:

• Crude Oil (johan sverdrup blend), import spot price, cif, Sweden

Each assessment includes Crude 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.

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

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.

The average 2023 price of avocado oil in the USA was 10746 USD/MT.

Explore IMARC’s newly published report, titled “Avocado Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of avocado oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In February 2025, Mexico's crude oil export price averaged 67.27 U.S. dollars per barrel. This figure represented a decrease compared to the average a year prior. In the latter half of 2024, oil prices worldwide fell due to lower demand outlooks and have since stagnated around 70 U.S. dollars per barrel. The peak was recorded in June 2022, when crude oil prices reached 110 U.S. dollars per barrel.

Between 2002 and 2023, prices of OPEC Reference Basket oils fluctuated dramatically. For example, Saharan Blend from Algeria stood at some 25 U.S. dollars per barrel in 2002. Ten years later, this figure had increased to more than 111 U.S. dollars. In 2023, it stood at 83.64 U.S. dollars. Oil prices: a rollercoaster ride Oil prices are inherently volatile due to the speculative nature of their price determination. Thus, sudden economic and geopolitical events may have big influences on pricing. For example, some of the major factors behind price fluctuation since the 2000s have been the global financial crisis in 2008, the 2020 coronavirus pandemic, and the energy supply crisis and subsequent Russia-Ukraine war in 2022. As a result, the OPEC crude oil price have oscillated between lows of 40 U.S. dollars and highs of 110 U.S. dollars. Shale oil overproduction leads to 2010 oil glut The 2010s price crash was caused in part by ever-growing production of domestic shale and tight oil in the United States. Though nearly 80 percent of global oil reserves can be found in OPEC countries, the United States has become the largest producer of oil worldwide in the last ten years.

The price of crude soybean oil in the USA reached 1127 USD/MT by the end of December 2023. In China, the price of crude soybean oil settled at 888 USD/MT in December 2023. In December 2023, the crude soybean oil priced reached 989 USD/MT in Germany.

Explore the complex factors influencing gas oil prices, a key fuel for industries like transportation and agriculture. From crude oil costs to refining, distribution, market speculation, and government policies, discover how economic conditions and geopolitical elements shape the pricing structure.

During the Q2 of 2024, the price of white oil in the United States reached 1638 USD/MT in June. The U.S. market exhibited stability, driven by a steady supply-demand outlook and regular refinery functions. Despite fluctuating rates of crude oil and minor geopolitical conflicts, the market remained resilient, with only slight seasonal price variations due to increased demand for cosmetic products during summer. In confluence with this, prices remained static compared to earlier quarters, reflecting a dependable pricing environment, ensuring minimal disruption in the white oil market.

Explore the factors influencing crude oil prices, including geopolitical tensions, OPEC decisions, and technological advancements. Understand the historical context, the role of OPEC, and how technical and fundamental analyses impact trading opportunities. Learn how oil prices affect global currencies and the influence of environmental policies on future demand.

Heating Oil decreased 0.05 USD/GAL or 2.13% since the beginning of 2025, 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 March of 2025.

In the fourth quarter of 2023, the price of fish oil in Germany reached 5271 USD/MT. It encompasses an in-depth review of spot price of fish oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of fish oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Ecuador Crude Oil: Price: Average: Oriente & Napo data was reported at 55.342 USD/Barrel in Jun 2019. This records a decrease from the previous number of 60.840 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Oriente & Napo data is updated monthly, averaging 67.265 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 112.454 USD/Barrel in Mar 2012 and a record low of 21.744 USD/Barrel in Jan 2016. Ecuador Crude Oil: Price: Average: Oriente & Napo data remains active status in CEIC and is reported by Central Bank of Ecuador. The data is categorized under Global Database’s Ecuador – Table EC.P001: Crude Oil Prices.

Have timely access to reliable Fuel Oil price assessments in United States:

• Fuel Oil (heavy), export spot price, fob, US Gulf

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 United States and up to 32 other countries are part of Intratec Energy Price References. Subscribe and access now current prices of key energy commodities worldwide.