Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, 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 March of 2025.

Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, 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 March of 2025.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 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 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

Gasoline increased 0.22 USD/GAL or 10.89% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on March of 2025.

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.

About the ProjectKAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.Key PointsIn the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded. Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia. North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant. For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts. Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.

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.

Crude Oil Price: Indonesia data was reported at 61.320 USD/Barrel in Jul 2019. This records an increase from the previous number of 60.990 USD/Barrel for Jun 2019. Crude Oil Price: Indonesia data is updated monthly, averaging 42.500 USD/Barrel from Dec 1991 (Median) to Jul 2019, with 332 observations. The data reached an all-time high of 134.960 USD/Barrel in Jul 2008 and a record low of 9.990 USD/Barrel in Dec 1998. Crude Oil Price: Indonesia data remains active status in CEIC and is reported by Directorate General of Oil and Gas. The data is categorized under Global Database’s Indonesia – Table ID.PC001: Retail Price: By Major Commodities.

Despite their widespread use as predictors of the spot price of oil, oil futures prices tend to be less accurate in the mean-squared prediction error sense than no-change forecasts. This result is driven by the variability of the futures price about the spot price, as captured by the oil futures spread. This variability can be explained by the marginal convenience yield of oil inventories. Using a two-country, multi-period general equilibrium model of the spot and futures markets for crude oil we show that increased uncertainty about future oil supply shortfalls under plausible assumptions causes the spread to decline. Increased uncertainty also causes precautionary demand for oil to increase, resulting in an immediate increase in the real spot price. Thus the negative of the oil futures spread may be viewed as an indicator of fluctuations in the price of crude oil driven by precautionary demand. An empirical analysis of this indicator provides evidence of how shifts in the uncertainty about future oil supply shortfalls affect the real spot price of crude oil.

Replication data for peer-reviewed article published in Journal of Applied Econometrics. Paper published online February 24, 2010.

Sunflower Oil increased 56 USD/T or 4.42% since the beginning of 2025, 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 Sunflower Oil.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on March of 2025.

During the last quarter of 2024, the mustard oil prices in India reached 1517 USD/MT in December. As per the mustard oil price chart, demand during the holiday season and winter stockpiling caused price fluctuations in India's mustard oil market. Strong price increases in October were fueled by favorable harvest conditions and seasonal consumption.

Explore IMARC’s newly published report, titled “Mustard Oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of mustard oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

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

Palm Oil decreased 155 MYR/MT or 3.49% since the beginning of 2025, 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 March of 2025.

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Drilling Data Management Systems Market Size 2025-2029

The drilling data management systems market size is forecast to increase by USD 17.89 billion, at a CAGR of 10.6% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing adoption of big data analytics in the oil and gas industry. With the vast amounts of data generated during drilling operations, drilling data management systems are becoming essential for improving productivity and transparency. This trend is particularly pronounced in regions with high drilling activity, such as North America and the Middle East. However, the market growth is not without challenges. Fluctuations in crude oil prices continue to impact the market, as drilling activities can be scaled back during price downturns. Additionally, the integration of drilling data management systems with other operational systems and data sources can be complex, requiring substantial investment in technology and personnel.
Companies seeking to capitalize on market opportunities and navigate challenges effectively should focus on developing user-friendly solutions that can seamlessly integrate with existing systems and provide real-time data analysis capabilities. By doing so, they can help operators make informed decisions, optimize drilling operations, and reduce costs. Overall, the market presents significant opportunities for growth, particularly as the industry continues to embrace digitalization and data-driven decision-making.

What will be the Size of the Drilling Data Management Systems Market during the forecast period?

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The market in the oil and gas industry is experiencing significant growth due to the increasing importance of asset optimization and well control in maximizing production rates from conventional reservoirs and economically viable shale formations. Advanced drill planning and engineering systems, geoscience systems, and database administration software are integral components of drilling data management systems, enabling real-time data collection, analysis, and reporting for drilling management teams. Multilateral wells and complex drilling operations necessitate strong data management systems to ensure efficient wellbore location tracking and production rate monitoring.
Cybersecurity concerns are also driving demand for advanced data management solutions to protect sensitive drilling data transmitted wirelessly from oil rigs. The market is further driven by the integration of drilling data management systems with engineering and production asset teams, enabling collaborative decision-making and improved drilling performance. Gas hydrates and other geological challenges pose technical complexities that require sophisticated data management systems to ensure safe and efficient drilling operations. Overall, the market is expected to continue its growth trajectory, driven by the need for data-driven drilling strategies and the increasing complexity of drilling operations.

How is this Drilling Data Management Systems Industry segmented?

The drilling data management systems industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Component

  Services
  Software
  Hardware


Application

  Oil and gas
  Energy and power


Geography

  North America

    US
    Canada
    Mexico


  Middle East and Africa

    UAE


  Europe

    Norway
    Russia
    UK


  APAC

    Australia


  South America

    Brazil

By Component Insights

The services segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to the increasing importance of data-handling efficiency in various industries. With the generation of vast data volumes, there is a heightened demand for flexible, scalable, and effective data management solutions. The services segment within this market encompasses activities such as sensor installation, equipment maintenance, consultation, and data analytics, all applied throughout drilling operations. New technologies like vertical drilling and Enhanced Oil Recovery (EOR) are driving investments in this sector, as they decrease drilling time and facilitate the efficient extraction of oil. Additionally, the integration of advanced technologies like Real-time analysis, Predictive analytics, Artificial Intelligence, IoT Sensors, and Cloud Computing, enhances operational efficiency and data transparency.

The market is further driven by the need for data security, particularly in the oil and gas industry, where cybersecurity concerns are increasingly prevalent. The market caters to both conventional and unconventional resources, including crude oil, shale oil, shale gas, and conven

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

Daily data showing SAP of gas, and rolling seven-day average, traded in Great Britain over the On-the-Day Commodity Market (OCM). These are official statistics in development. Source: National Gas Transmission.

This table contains consumer prices for electricity and gas. Weighted average monthly prices are published broken down into transport rate, delivery rates and taxes, both including and excluding VAT. These prices are published on a monthly basis. The prices presented in this table were used to compile the CPI up to May 2023. Prices for newly offered contracts were collected. Contract types that are no longer offered, but have been in previous reporting periods, are imputed. The average can therefore diverge from the prices paid for energy contracts by Dutch households.

Data available from January 2018 up to May 2023.

Status of the figures: The figures are definitive.

Changes as of 17 July 2023: This table will no longer be updated. Due to a change in the underlying data and accompanying method for calculcating average energy prices, a new table was created. See paragraph 3.

Changes as of 13 February: Average delivery rates are not shown in this table from January 2023 up to May 2023. With the introduction of the price cap, the average energy rates (delivery rates) of fixed and variable energy contracts together remained useful for calculating a development for the CPI. However, as a pricelevel, they are less useful. Average energy prices from January 2023 up to May 2023 are published in a customized table. In this publication, only data concerning new variable contracts are taken into account

When will new figures be published? Does not apply.