Changes of world crude oil price have always been in the focus of economic and financial news. The higher crude oil prices are, the more positive is the economic outlook for petroleum exporters. On the contrary, countries dependent on petroleum imports suffer from high energy prices.
In April 2015 The World Bank released its Commodity Forecast, which predicts that world crude oil price will fall from $96/barr. in 2014 to $57/barr. in 2015. According to Commodity Price Forecast from IMF released in Mar. 2015, spot average price fore crude oil will fall from $96.2/barr. in 2014 to $56.2/barr. in 2015.
Crude oil, Brent
Crude oil, Dubai
Crude oil, WTI
1960
1.63
1961
1.57
1962
1.52
1963
1.50
1964
1.45
1965
1.42
1966
1.36
1967
1.33
1968
1.32
1969
1.27
1970
1.21
1971
1.69
1972
1.82
1973
2.81
1974
10.97
1975
10.43
1976
11.63
1977
12.57
1978
12.92
1979
32.11
29.82
1980
37.89
35.85
1981
36.68
34.29
1982
33.42
31.76
32.77
1983
29.83
28.73
30.41
1984
28.80
27.49
29.38
1985
27.33
26.46
27.76
1986
14.77
13.20
15.08
1987
18.34
16.94
19.16
1988
14.97
13.22
15.97
1989
18.22
15.70
19.60
1990
23.68
20.46
24.49
1991
20.07
16.56
21.48
1992
19.31
17.19
20.56
1993
17.02
14.94
18.56
1994
15.83
14.67
17.16
1995
17.07
16.12
18.37
1996
20.65
18.54
22.07
1997
19.09
18.10
20.33
1998
12.72
12.13
14.35
1999
17.81
17.17
19.24
2000
28.27
26.08
30.33
2001
24.42
22.71
25.92
2002
24.97
23.72
26.09
2003
28.85
26.74
31.11
2004
38.30
33.46
41.44
2005
54.43
49.29
56.44
2006
65.39
61.43
66.04
2007
72.70
68.37
72.28
2008
97.64
93.78
99.56
2009
61.86
61.75
61.65
2010
79.64
78.06
79.43
2011
110.94
106.03
95.05
2012
111.97
108.90
94.16
2013
108.86
105.43
97.94
2014
98.94
96.66
93.11
World Bank: Crude oil, $/barrel
avg. spot price (Brent, Dubai, WTI)
World Bank: Crude oil, $/barrel
avg. spot price (Brent, Dubai, WTI)
Nominal US Dollars
Real 2010 US Dollars
2013
2014
2015
2016
2017
2018
2019
2020
2025
2013
2014
2015
2016
2017
2018
2019
2020
2025
Nominal US Dollars
104.1
96.2
57.5
61.2
63.7
66.3
69.1
71.9
88.3
Real 2010 US Dollars
98.1
90.9
54.4
56.8
58.2
59.7
61.2
62.7
70.8
IMF: Spot Crude, $/barrel
Petroleum price is average of spot prices for U.K. Brent, Dubai and West Texas Intermediate
IMF: Spot Crude, $/barrel
Petroleum price is average of spot prices for U.K. Brent, Dubai and West Texas Intermediate
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