Venezuela: Merey crude oil price 2005-2021
In 2021, the price of Merey crude oil – Venezuela’s reference export blend – averaged 51.45 U.S. dollars per barrel. The blend registered the highest price of the indicated period in 2012, at more than 100 dollars per barrel. A part of the OPEC Reference Basket since January 2009, Venezuela’s export oil is the basket's heaviest component, and in turn has historically reported the lowest average price.
