The Platts Market Data - Oil dataset provides access to market data and oil price assessments for global the crude oil and refined oil industry.

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.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three 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 a 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.

The price of tall oil in the United States for Q4 2023 reached 985 USD/Ton in December. The price trajectory in the region showed increases in January and February, driven by increasing buying activity in sectors such as nutraceutical and healthcare. Additionally, disruptions at two crucial shipping chokepoints, namely the Suez Canal and the Panama Canal, resulted in increased costs for U.S. retailers, subsequently leading to higher prices for consumers.

Tall Oil Prices December 2023

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

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.

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.

The Price of RBD Palm Oil in China for Q4 2023 reached 992 USD/MT in December. In Malaysia, RBD palm oil prices reached 812 USD/MT in December 2023.

NYMEX is a commodity futures exchange operating as part of the CME Group and primarily trades energy and metal contracts. NYMEX is known for trading futures contracts for crude oil, natural gas, heating oil, gasoline, and other energy products, as well as contracts for metals such as gold, silver, copper, and aluminum.

Success.ai’s Oil & Gas Data with B2B CEO Contact Data for Global Energy Sector Executives offers businesses a powerful solution to connect with key decision-makers, influencers, and industry leaders across the energy spectrum. Drawing from over 170 million verified professional profiles, this dataset includes work emails, phone numbers, and enriched profiles of executives in oil and gas, renewable energy, utilities, and other energy-related sectors. Whether you’re targeting CEOs, operations managers, or sustainability directors, Success.ai ensures that you have the accurate and relevant information needed for effective outreach and strategic engagement.

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This table contains pump prices for motor fuels at petrol stations. Weighted average daily prices are published of petrol Euro95, diesel oil and LPG including VAT and excise duties. These daily prices are published once a week.

Data available from: January 2006

Status of the figures: The figures in this table are final figures.

Changes since the previous period: New figures have been added

When will new figures be published? The figures appear on Thursday of each week. If circumstances, such as public holidays, prevent publishing on Thursday, figures will be published on the next working day.

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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

Brent crude oil is projected to have an average annual spot price of 74.5 U.S. dollars per barrel in 2025, according to a forecast from February 2025. This would mean a decrease of six U.S. dollars compared to the previous year, and also reflects a reduced forecast WTI crude oil price. All about Brent Also known as Brent Blend, London Brent, and Brent petroleum, Brent Crude is a crude oil benchmark named after the exploration site in the North Sea's Brent oilfield. It is a sweet light crude oil but slightly heavier than West Texas Intermediate. In this context, sweet refers to a low sulfur content and light refers to a relatively low density when compared to other crude oil benchmarks. Price development in the 2020s Oil prices are volatile, impacted by consumer demand and discoveries of new oilfields, new extraction methods such as fracking, and production caps routinely placed by OPEC on its member states. The price for Brent crude oil stood at an average of just 42 U.S. dollars in 2020, when the coronavirus pandemic resulted in a sudden demand drop. Two years later, sanctions on Russian energy imports, had pushed up prices to a new decade-high, above 100 U.S. dollars per barrel.

The butadiene prices in the United States for Q4 2024 reached 965 USD/MT in December. The market in the USA experienced challenges primarily due to weak automotive deals, which led to diminished requirements. High stock concentrations forced destocking, keeping prices down. Despite rising naphtha rates and crude oil, these were not fully passed on to butadiene production, adding further downward pressure.

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

The benzene prices in the United States for Q4 2023 reached 1007 USD/MT in December. The market witnessed a significant decline due to moderate demand from sectors like styrene and cumene, alongside steady supply levels. Reduced import volumes at major ports and stable crude oil inventories also contributed to the bearish market conditions, with prices falling as downstream demand remained weak throughout the quarter.

Benzene Prices December 2023

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

515536 Global exporters importers export import shipment records of Edible oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

As of January 2024, the average price of gasoline in Nigeria was 668.3 Nigerian naira (NGN) per liter, around 0.41 U.S. dollars. Compared to the previous month, the price increased. In January 2023, the average price of petrol in the country stood at approximately 257 NGN.

878886 Global exporters importers export import shipment records of Sunflower oil with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.