Show me the price of oil today

The Average Crude Oil Spot Price calculates an equally weighted price of the WTI Crude Oil Price, Brent Crude Oil Price, and Dubai Crude Oil Price. This metric gives a nice overview of the broad crude oil market, rather than looking at one type of crude oil price alone. One of the most notable times for the Average Crude Oil Spot Price was in 2008. Prices for the Average Crude reached as high as $114/barrel because of large cuts in production. However, because of the financial crisis and an abrupt loss of demand for oil globally, the price of Average Crude fell as much at 70% off highs in January of 2009.

Average Crude Oil Spot Price is at a current level of 87.38, down from 90.33 last month and up from 79.92 one year ago. This is a change of -3.27% from last month and 9.33% from one year ago.

ReportCommodity Markets ReviewCategoriesAgriculture and Livestock , Chemicals , Metals

RegionN/ASourceWorld Bank

Stats

Last Value87.38Latest PeriodNov 2022Last UpdatedDec 5 2022, 10:06 ESTAverage Growth Rate11.79%

Value from Last Month90.33Change from Last Month-3.27%Value from 1 Year Ago79.92Change from 1 Year Ago9.33%FrequencyMonthlyUnitUSD per BarrelAdjustmentN/ADownload Source FileDownloadNotesAverage spot price of Brent, Dubai and West Texas Intermediate, equally weighed.

Historical Data

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DateValueNovember 30, 202287.38October 31, 202290.33September 30, 202288.22August 31, 202295.97July 31, 2022105.08June 30, 2022116.80May 31, 2022110.10April 30, 2022103.41March 31, 2022112.40February 28, 202293.54January 31, 202283.92December 31, 202172.87November 30, 202179.92October 31, 202182.06September 30, 202172.80August 31, 202168.87July 31, 202173.28June 30, 202171.80May 31, 202166.40April 30, 202162.95March 31, 202163.83February 28, 202160.46January 31, 202153.60December 31, 202048.73November 30, 202042.30

DateValueOctober 31, 202039.90September 30, 202040.60August 31, 202043.44July 31, 202042.07June 30, 202039.46May 31, 202030.38April 30, 202021.04March 31, 202032.20February 29, 202053.35January 31, 202061.63December 31, 201963.35November 30, 201960.40October 31, 201957.27September 30, 201960.04August 31, 201957.67July 31, 201961.48June 30, 201959.76May 31, 201966.83April 30, 201968.58March 31, 201963.79February 28, 201961.13January 31, 201956.58December 31, 201853.96November 30, 201862.32October 31, 201876.73

Basic Info

The Average Crude Oil Spot Price calculates an equally weighted price of the WTI Crude Oil Price, Brent Crude Oil Price, and Dubai Crude Oil Price. This metric gives a nice overview of the broad crude oil market, rather than looking at one type of crude oil price alone. One of the most notable times for the Average Crude Oil Spot Price was in 2008. Prices for the Average Crude reached as high as $114/barrel because of large cuts in production. However, because of the financial crisis and an abrupt loss of demand for oil globally, the price of Average Crude fell as much at 70% off highs in January of 2009.

Average Crude Oil Spot Price is at a current level of 87.38, down from 90.33 last month and up from 79.92 one year ago. This is a change of -3.27% from last month and 9.33% from one year ago.

ReportCommodity Markets ReviewCategoriesAgriculture and Livestock , Chemicals , Metals

RegionN/ASourceWorld Bank

Stats

Last Value87.38Latest PeriodNov 2022Last UpdatedDec 5 2022, 10:06 ESTAverage Growth Rate11.79%

Value from Last Month90.33Change from Last Month-3.27%Value from 1 Year Ago79.92Change from 1 Year Ago9.33%FrequencyMonthlyUnitUSD per BarrelAdjustmentN/ADownload Source FileDownloadNotesAverage spot price of Brent, Dubai and West Texas Intermediate, equally weighed.

Related Indicators

World Energy

Australia Coal Price342.16 USD/mtBrent Crude Oil Spot Price81.66 USD/bblBrent WTI Spread6.61 USD/bblDubai Fateh Crude Oil Spot Price91.21 USD/bblJapan Liquefied Natural Gas Import Price21.74 USD/MMBtu

OPEC Crude Oil Production30.58M bbl/dUS Liquefied Natural Gas Exports Price16.72 USD/thou cfWorld Oil Consumption94.09M bbl/dWorld Oil Production89.88M bbl/dWorld Oil Rig Count701.00WTI Crude Oil Spot Price75.05 USD/bbl

WTI crude futures climbed toward $79 per barrel on Thursday, rising for the fourth straight session as an expected surge in travel for the holiday season is threatening to exacerbate tightening US energy supplies. Latest data showed that US crude inventories fell by 5.89 million barrels last week, much more than market forecasts for a 1.66 million barrel drop. US distillate stocks, which include heating oil and jet fuel, also declined, defying expectations for a build. Oil prices were also supported by an improving demand outlook in top crude importer China, as the country appeared intent on ending its strict zero-Covid policy and delivering more pro-growth measures centered on reviving consumption. Meanwhile, investors remain cautious as major central banks are expected to tighten policy further, raising the risk of a global economic slowdown next year.

Historically, Crude oil reached an all time high of 147.27 in July of 2008. Crude oil - data, forecasts, historical chart - was last updated on December of 2022.

Crude oil is expected to trade at 77.23 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 86.78 in 12 months time.

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