In 2023, the price of Merey crude oil – Venezuela’s reference blend – averaged 64.37 U.S. dollars per barrel. The highest annual average was recorded 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.
Average Venezuela's Merey crude oil price from 2005 to 2023
(in U.S. dollars per barrel)
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OPEC. (July 1, 2024). Average Venezuela's Merey crude oil price from 2005 to 2023 (in U.S. dollars per barrel) [Graph]. In Statista. Retrieved October 12, 2024, from https://www.statista.com/statistics/1240496/annual-average-price-merey-crude-oil/
OPEC. "Average Venezuela's Merey crude oil price from 2005 to 2023 (in U.S. dollars per barrel)." Chart. July 1, 2024. Statista. Accessed October 12, 2024. https://www.statista.com/statistics/1240496/annual-average-price-merey-crude-oil/
OPEC. (2024). Average Venezuela's Merey crude oil price from 2005 to 2023 (in U.S. dollars per barrel). Statista. Statista Inc.. Accessed: October 12, 2024. https://www.statista.com/statistics/1240496/annual-average-price-merey-crude-oil/
OPEC. "Average Venezuela's Merey Crude Oil Price from 2005 to 2023 (in U.S. Dollars per Barrel)." Statista, Statista Inc., 1 Jul 2024, https://www.statista.com/statistics/1240496/annual-average-price-merey-crude-oil/
OPEC, Average Venezuela's Merey crude oil price from 2005 to 2023 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/1240496/annual-average-price-merey-crude-oil/ (last visited October 12, 2024)
Average Venezuela's Merey crude oil price from 2005 to 2023 (in U.S. dollars per barrel) [Graph], OPEC, July 1, 2024. [Online]. Available: https://www.statista.com/statistics/1240496/annual-average-price-merey-crude-oil/