Annual Crude Oil (Brent) Price Archive
Brent Crude is the primary pricing benchmark for two-thirds of the world's internationally traded physical crude oil supplies.
Annual Crude oil, Brent benchmark price: World Bank annual nominal observations from the Pink Sheet workbook. Unit conversions and CPI adjustments are calculated by CommoditiesHistory.com. No incomplete 2026 annual value is included.
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Detailed analysis of secular supercycles, wartime allocations, and price shocks
World Bank annual nominal observations from the Pink Sheet workbook. Unit conversions and CPI adjustments are calculated by CommoditiesHistory.com. No incomplete 2026 annual value is included.
Nominal vs. Real Inflation-Adjusted Prices in 2026 USD
| Year | Nominal Price ($/barrel) | Real Price (2026 USD) | CPI / Historical Estimate | Historical Context / Market Event |
|---|---|---|---|---|
| 2025 | $69.00 | $71.79 | 321.9 | — |
| 2024 | $80.70 | $86.18 | 313.7 | Red Sea Bab el-Mandeb Tanker Attacks |
| 2023 | $82.60 | $90.81 | 304.7 | — |
| 2022 | $99.80 | $114.23 | 292.7 | Russian Invasion of Ukraine (Spikes to $139.13/bbl) |
| 2021 | $70.40 | $87.03 | 271.0 | Post-Pandemic Economic Reopening |
| 2020 | $42.30 | $54.75 | 258.8 | COVID-19 Global Transportation Shock |
| 2019 | $64.00 | $83.86 | 255.7 | — |
| 2018 | $71.10 | $94.85 | 251.1 | — |
| 2017 | $54.40 | $74.34 | 245.1 | — |
| 2016 | $44.00 | $61.41 | 240.0 | OPEC+ Historic Production Alliance Formed |
| 2015 | $52.40 | $74.06 | 237.0 | — |
| 2014 | $98.90 | $139.94 | 236.7 | OPEC Chooses Market Share Over Price Defense |
| 2013 | $108.90 | $156.59 | 233.0 | — |
| 2012 | $112.00 | $163.41 | 229.6 | — |
| 2011 | $110.90 | $165.15 | 224.9 | Arab Spring Shuts Down Libyan Sweet Crude Output |
| 2010 | $79.60 | $122.28 | 218.1 | — |
| 2009 | $61.90 | $96.65 | 214.5 | Global Financial Crisis Recovery |
| 2008 | $97.60 | $151.85 | 215.3 | All-Time Record Nominal Peak ($147.50/bbl on July 11) |
| 2007 | $72.70 | $117.45 | 207.3 | — |
| 2006 | $65.40 | $108.67 | 201.6 | — |
| 2005 | $54.40 | $93.31 | 195.3 | — |
| 2004 | $38.30 | $67.92 | 188.9 | — |
| 2003 | $28.90 | $52.61 | 184.0 | — |
| 2002 | $25.00 | $46.55 | 179.9 | — |
| 2001 | $24.40 | $46.15 | 177.1 | — |
| 2000 | $28.30 | $55.05 | 172.2 | — |
| 1999 | $17.80 | $35.79 | 166.6 | — |
| 1998 | $12.70 | $26.10 | 163.0 | Asian Financial Crisis Lows |
| 1997 | $19.10 | $39.86 | 160.5 | — |
| 1996 | $20.70 | $44.19 | 156.9 | — |
| 1995 | $17.10 | $37.59 | 152.4 | — |
| 1994 | $15.80 | $35.71 | 148.2 | — |
| 1993 | $17.00 | $39.41 | 144.5 | — |
| 1992 | $19.30 | $46.08 | 140.3 | — |
| 1991 | $20.10 | $49.44 | 136.2 | — |
| 1990 | $23.70 | $60.74 | 130.7 | Iraqi Invasion of Kuwait |
| 1989 | $18.20 | $49.17 | 124.0 | — |
| 1988 | $15.00 | $42.47 | 118.3 | Piper Alpha North Sea Platform Explosion Disaster |
| 1987 | $18.30 | $53.96 | 113.6 | — |
| 1986 | $14.80 | $45.23 | 109.6 | Saudi Netback Price War |
| 1985 | $27.30 | $84.99 | 107.6 | — |
| 1984 | $28.80 | $92.85 | 103.9 | — |
| 1983 | $29.80 | $100.22 | 99.6 | — |
| 1982 | $33.40 | $115.94 | 96.5 | — |
| 1981 | $36.70 | $135.24 | 90.9 | — |
| 1980 | $37.90 | $154.07 | 82.4 | Iran-Iraq War Erupts |
| 1979 | $32.10 | $148.11 | 72.6 | Iranian Revolution Spikes Seaborne Crude |
| 1978 | $12.90 | $66.28 | 65.2 | — |
| 1977 | $12.60 | $69.65 | 60.6 | — |
| 1976 | $11.60 | $68.29 | 56.9 | — |
| 1975 | $10.40 | $64.75 | 53.8 | Brent Field Commercial Production Commences |
| 1974 | $11.00 | $74.74 | 49.3 | — |
| 1973 | $2.80 | $21.12 | 44.4 | First OPEC Embargo Shock |
| 1972 | $1.80 | $14.42 | 41.8 | — |
| 1971 | $1.70 | $14.06 | 40.5 | — |
| 1970 | $1.20 | $10.36 | 38.8 | North Sea Brent Field Discovered by Shell/Esso |
| 1969 | $1.30 | $11.87 | 36.7 | — |
| 1968 | $1.30 | $12.51 | 34.8 | — |
| 1967 | $1.30 | $13.04 | 33.4 | — |
| 1966 | $1.40 | $14.47 | 32.4 | — |
| 1965 | $1.40 | $14.89 | 31.5 | — |
| 1964 | $1.50 | $16.21 | 31.0 | — |
| 1963 | $1.50 | $16.42 | 30.6 | — |
| 1962 | $1.50 | $16.64 | 30.2 | — |
| 1961 | $1.60 | $17.93 | 29.9 | — |
| 1960 | $1.60 | $18.11 | 29.6 | — |
Targeted answers to high-frequency historical and economic queries
World Bank: Commodity Price Data (Pink Sheet): Crude oil, Brent — Data providers: World Bank.; Bloomberg Finance L.P. Finance L.P.; Energy Intelligence Group (EIG); Organization of Petroleum Exporting Countries (OPEC); World Bank. — Underlying source data: CC BY 4.0. Source terms and acknowledgment requirements. Unit conversions and inflation adjustments by CommoditiesHistory.com.
Commodities History Project. (2026). Crude Oil (Brent) Historical Prices and Inflation-Adjusted Series (1960–2025) [Data set]. CommoditiesHistory.com. https://commoditieshistory.com/crude-oil-brent
@dataset{commoditieshistory_crude-oil-brent_2026,
author = {{Commodities History Project}},
title = {Crude Oil (Brent) Historical Prices and Inflation-Adjusted Series (1960–2025)},
year = {2026},
publisher = {CommoditiesHistory.com},
url = {https://commoditieshistory.com/crude-oil-brent}
}