The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. 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.

In June 2025, the average price of the OPEC basket was 69.73 U.S. dollars per barrel. This was an increase compared to the previous month, which was the lowest value in the past 24 months. 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, the 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 32.8 million barrels per day in 2024. 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.

Crude Oil rose to 70.07 USD/Bbl on July 31, 2025, up 0.09% from the previous day. Over the past month, Crude Oil's price has risen 7.05%, but it is still 8.18% lower than a year ago, 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 July of 2025.

Between 2002 and 2024, prices of OPEC Reference Basket oils fluctuated dramatically. For example, Saharan Blend from Algeria stood at some ** U.S. dollars per barrel in 2002. Ten years later, this figure had increased to more than *** U.S. dollars. In 2024, it stood at ***** 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 basket price has oscillated between lows of ** U.S. dollars and highs of *** 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 ** 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.

Brent fell to 71.82 USD/Bbl on July 31, 2025, down 0.90% from the previous day. Over the past month, Brent's price has risen 7.02%, but it is still 9.69% 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.

United States Crude Oil Price: EIA: FOB Cost of Imports: OPEC data was reported at 68.770 USD/Barrel in Aug 2018. This records an increase from the previous number of 67.270 USD/Barrel for Jul 2018. United States Crude Oil Price: EIA: FOB Cost of Imports: OPEC data is updated monthly, averaging 25.090 USD/Barrel from Oct 1973 (Median) to Aug 2018, with 539 observations. The data reached an all-time high of 126.300 USD/Barrel in Jun 2008 and a record low of 4.220 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: FOB Cost of Imports: OPEC 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.

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).

Heating Oil rose to 2.42 USD/Gal on July 31, 2025, up 0.38% from the previous day. Over the past month, Heating Oil's price has risen 3.79%, and is up 0.23% compared to the same time last year, 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 July of 2025.

Urals Oil rose to 65.21 USD/Bbl on July 28, 2025, up 0.77% from the previous day. Over the past month, Urals Oil's price has risen 2.76%, but it is still 13.12% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

Graph and download economic data for Crude Oil Prices: Brent - Europe (DCOILBRENTEU) from 1987-05-20 to 2025-07-21 about crude, oil, Europe, commodities, and price.

NN: OPEC: SCOP: Average: Congo: Djeno data was reported at 78.520 USD/Barrel in Oct 2018. This records an increase from the previous number of 76.180 USD/Barrel for Sep 2018. NN: OPEC: SCOP: Average: Congo: Djeno data is updated monthly, averaging 64.080 USD/Barrel from Jun 2017 (Median) to Oct 2018, with 17 observations. The data reached an all-time high of 78.520 USD/Barrel in Oct 2018 and a record low of 44.300 USD/Barrel in Jun 2017. NN: OPEC: SCOP: Average: Congo: Djeno data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries. The data is categorized under World Trend Plus’s Association: Oil and Gas Sector – Table RO.OPEC.CO: Crude Oil Price: Monthly.

Oil shocks exert influence on macroeconomic activity through various channels, many of which imply a symmetric effect. However, the effect can also be asymmetric. In particular, sharp oil price changes "either increases or decreases" may reduce aggregate output temporarily because they delay business investment by raising uncertainty or induce costly sectoral resource reallocation. Consistent with these asymmetric-effect hypotheses, the authors find that a volatility measure constructed using daily crude oil futures prices has a negative and significant effect on future gross domestic product (GDP) growth over the period 1984-2004. Moreover, the effect becomes more significant after oil price changes are also included in the regression to control for the symmetric effect. The evidence here provides economic rationales for Hamilton's (2003) nonlinear oil shock measure: It captures overall effects, both symmetric and asymmetric, of oil price shocks on output.

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.

Ecuador Crude Oil: Price: Average: Petroleum WTI data was reported at 54.680 USD/Barrel in Jun 2019. This records a decrease from the previous number of 60.730 USD/Barrel for May 2019. Ecuador Crude Oil: Price: Average: Petroleum WTI data is updated monthly, averaging 75.215 USD/Barrel from Jan 2010 (Median) to Jun 2019, with 114 observations. The data reached an all-time high of 109.890 USD/Barrel in Apr 2011 and a record low of 30.330 USD/Barrel in Feb 2016. Ecuador Crude Oil: Price: Average: Petroleum WTI 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.

Learn about the factors that led to the highest crude oil price in the past decade, including geopolitical tensions, production cuts by OPEC, and increased oil demand. Discover how oil prices have since fluctuated and the uncertain future of the oil market.

Brent Crude Oil Price: EA: Forward: 1 Month data was reported at 72.079 EUR/Barrel in Mar 2025. This records an increase from the previous number of 69.734 EUR/Barrel for Dec 2024. Brent Crude Oil Price: EA: Forward: 1 Month data is updated quarterly, averaging 34.532 EUR/Barrel from Sep 1985 (Median) to Mar 2025, with 159 observations. The data reached an all-time high of 103.376 EUR/Barrel in Jun 2022 and a record low of 9.999 EUR/Barrel in Dec 1998. Brent Crude Oil Price: EA: Forward: 1 Month data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s European Union – Table EU.P005: European Central Bank: Crude Oil Price. [COVID-19-IMPACT]

United States Crude Oil Price: EIA: Landed Cost of Imports: OPEC data was reported at 69.580 USD/Barrel in Aug 2018. This records a decrease from the previous number of 69.870 USD/Barrel for Jul 2018. United States Crude Oil Price: EIA: Landed Cost of Imports: OPEC data is updated monthly, averaging 26.440 USD/Barrel from Oct 1973 (Median) to Aug 2018, with 539 observations. The data reached an all-time high of 128.100 USD/Barrel in Jun 2008 and a record low of 5.890 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: Landed Cost of Imports: OPEC 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.

Oil price dataset refers to a collection of historical data that captures the prices of crude oil or petroleum products over a specific period. This dataset is valuable for various stakeholders, including economists, financial analysts, traders, and policy-makers, as it provides insights into trends, fluctuations, and market dynamics.

Europe Brent and WTI (Western Texas Intermediate) Spot Prices (Annual/ Monthly/ Weekly/ Daily) from EIA U.S. (Energy Information Administration).

This series is available through the EIA open data ...

As of June 2025, the average annual price of Brent crude oil stood at 71.91 U.S. dollars per barrel. This is over 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 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.