Oil prices

The Dated Brent oil price averaged $43.73 per barrel in 2016, down from $52.39/bbl in 2015 and its lowest (nominal) annual level since 2004

In 2016 the annual average price for Brent declined by 17%, while the WTI - Brent differential narrowed to $0.39 per barrel. The market responded to the decline in oil prices, with demand increasing by 2.0 Mb/d, twice its 10-year average.

Crude oil prices ($ per barrel | world events)

crude-oil-prices-bp

Rotterdam product prices ($ per barrel)

Rotterdam product prices ($ per barrel)

Source: S&P Global Platts, ©2017, S&P Global Inc.

Product differentials to crude (Rotterdam products minus dated Brent) ($ per barrel)

Product differentials to crude (Rotterdam products minus dated Brent) ($ per barrel)

Source: S&P Global Platts, ©2017, S&P Global Inc.

Methodology

The key crudes quoted are Brent, West Texas Intermediate (WTI), Nigerian Focados and Dubai in US$ per barrel.

The spot crude price history from 1972 and annual crude price history from 1861 are available in the historical data excel workbook.

Using S&P Global Platts data

For data whose source is Platts, the redistribution and reproduction of this data is strictly prohibited without prior authorization from Platts.

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