The data displays the Brent crude oil price from 1976 to 2018. In 2017, the average price of Brent crude oil was at 54.25 USD per barrel. Brent is the world's leading price benchmark for Atlantic basin crude oils. The price of crude oil is closely observed as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well.
Crude oil benchmarks
In 2017, the Brent crude oil prices totaled an average of 54.25 USD per barrel, down significantly from the 2014 average price of 99 USD per barrel.
