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

Venezuela VE: Natural Gas Rents: % of GDP data was reported at 0.315 % in 2014. This records a decrease from the previous number of 0.423 % for 2013. Venezuela VE: Natural Gas Rents: % of GDP data is updated yearly, averaging 0.328 % from Dec 1970 (Median) to 2014, with 45 observations. The data reached an all-time high of 0.668 % in 2006 and a record low of 0.000 % in 1973. Venezuela VE: Natural Gas Rents: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank.WDI: Land Use, Protected Areas and National Wealth. Natural gas rents are the difference between the value of natural gas 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;

Exports of Petroleum gases and other gaseous hydrocarbons; in gaseous state, other than natural gas in Venezuela 2007-2018: Exports, Exports By Country, Export Prices By Country

China Import: Liquefied Natural Gas: Latin America: Venezuela data was reported at 0.000 USD th in Mar 2018. This stayed constant from the previous number of 0.000 USD th for Feb 2018. China Import: Liquefied Natural Gas: Latin America: Venezuela data is updated monthly, averaging 0.000 USD th from Jan 2008 (Median) to Mar 2018, with 123 observations. China Import: Liquefied Natural Gas: Latin America: Venezuela data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JL: Import by Country: Liquefied Natural Gas: Value.