Since the beginning of the year 2020, crude oil prices have slumped dramatically. Consumer demand declined following fears of a continued spread of COVID-19 and its impact on the economy, which in turn led to a disagreement between two of the largest oil producers, Russia and Saudi Arabia in early March. As of March 24th, the OPEC basket stood at 26.53 U.S. dollars per barrel, compared to 27.15 U.S. dollars for Brent oil and 24.01 U.S. dollars for WTI oil.
Weekly Brent, OPEC basket, and WTI crude oil prices from December 30, 2019 to March 24, 2020
(in U.S. dollars per barrel)
This statistic was assembled from two different sources. Data for Brent and WTI prices were taken from Bloomberg, whereas OPEC basket prices may be found here.
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OPEC, & Bloomberg. (March 25, 2020). Weekly Brent, OPEC basket, and WTI crude oil prices from December 30, 2019 to March 24, 2020 (in U.S. dollars per barrel) [Graph]. In Statista. Retrieved March 31, 2020, from https://www.statista.com/statistics/326017/weekly-crude-oil-prices/
OPEC, und Bloomberg. "Weekly Brent, OPEC basket, and WTI crude oil prices from December 30, 2019 to March 24, 2020 (in U.S. dollars per barrel)." Chart. March 25, 2020. Statista. Accessed March 31, 2020. https://www.statista.com/statistics/326017/weekly-crude-oil-prices/
OPEC, Bloomberg. (2020). Weekly Brent, OPEC basket, and WTI crude oil prices from December 30, 2019 to March 24, 2020 (in U.S. dollars per barrel). Statista. Statista Inc.. Accessed: March 31, 2020. https://www.statista.com/statistics/326017/weekly-crude-oil-prices/
OPEC, and Bloomberg. "Weekly Brent, Opec Basket, and Wti Crude Oil Prices from December 30, 2019 to March 24, 2020 (in U.S. Dollars per Barrel)." Statista, Statista Inc., 25 Mar 2020, https://www.statista.com/statistics/326017/weekly-crude-oil-prices/
OPEC & Bloomberg, Weekly Brent, OPEC basket, and WTI crude oil prices from December 30, 2019 to March 24, 2020 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/326017/weekly-crude-oil-prices/ (last visited March 31, 2020)
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