Annual Crude Oil (WTI) Price Archive
West Texas Intermediate (WTI) is the primary global benchmark for light, sweet crude oil.
Annual Crude oil, WTI 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 | $64.90 | $67.53 | 321.9 | — |
| 2024 | $75.80 | $80.94 | 313.7 | Red Sea Shipping Attacks & Middle East Volatility |
| 2023 | $77.70 | $85.42 | 304.7 | — |
| 2022 | $94.40 | $108.05 | 292.7 | Russia-Ukraine War & European Energy Realignment |
| 2021 | $68.00 | $84.06 | 271.0 | Post-Pandemic Global Demand Rebound |
| 2020 | $39.30 | $50.87 | 258.8 | COVID-19 Lockdowns (WTI Crashes to -$37.63 on April 20) |
| 2019 | $57.00 | $74.69 | 255.7 | — |
| 2018 | $64.80 | $86.44 | 251.1 | — |
| 2017 | $50.90 | $69.56 | 245.1 | — |
| 2016 | $43.20 | $60.29 | 240.0 | OPEC+ Coalition Formed with Russia |
| 2015 | $48.70 | $68.83 | 237.0 | — |
| 2014 | $93.10 | $131.74 | 236.7 | US Shale Boom & Saudi Market-Share War |
| 2013 | $97.90 | $140.78 | 233.0 | — |
| 2012 | $94.20 | $137.44 | 229.6 | — |
| 2011 | $95.10 | $141.62 | 224.9 | Arab Spring Protests & Libyan Civil War |
| 2010 | $79.40 | $121.98 | 218.1 | — |
| 2009 | $61.70 | $96.34 | 214.5 | Global Financial Crisis Demand Destruction |
| 2008 | $99.60 | $154.96 | 215.3 | All-Time Record Spike ($140.70/bbl in July 2008) |
| 2007 | $72.30 | $116.81 | 207.3 | — |
| 2006 | $66.00 | $109.67 | 201.6 | — |
| 2005 | $56.40 | $96.74 | 195.3 | Hurricane Katrina Hits Gulf Coast Refineries |
| 2004 | $41.40 | $73.42 | 188.9 | — |
| 2003 | $31.10 | $56.62 | 184.0 | US Invasion of Iraq |
| 2002 | $26.10 | $48.60 | 179.9 | — |
| 2001 | $25.90 | $48.99 | 177.1 | 9/11 Economic Shock |
| 2000 | $30.30 | $58.94 | 172.2 | — |
| 1999 | $19.20 | $38.61 | 166.6 | OPEC Production Discipline Re-established |
| 1998 | $14.30 | $29.39 | 163.0 | Global Oil Glut ($10/bbl Lows) |
| 1997 | $20.30 | $42.37 | 160.5 | Asian Financial Crisis Begins |
| 1996 | $22.10 | $47.18 | 156.9 | — |
| 1995 | $18.40 | $40.44 | 152.4 | — |
| 1994 | $17.20 | $38.88 | 148.2 | — |
| 1993 | $18.60 | $43.12 | 144.5 | — |
| 1992 | $20.60 | $49.18 | 140.3 | — |
| 1991 | $21.50 | $52.88 | 136.2 | Operation Desert Storm Victory |
| 1990 | $24.50 | $62.79 | 130.7 | Gulf War (Iraqi Invasion of Kuwait) |
| 1989 | $19.60 | $52.95 | 124.0 | — |
| 1988 | $16.00 | $45.31 | 118.3 | — |
| 1987 | $19.20 | $56.62 | 113.6 | — |
| 1986 | $15.10 | $46.15 | 109.6 | Saudi Arabia Opens Spigots; Price Collapse |
| 1985 | $27.80 | $86.55 | 107.6 | — |
| 1984 | $29.40 | $94.79 | 103.9 | — |
| 1983 | $30.40 | $102.24 | 99.6 | NYMEX Crude Oil Futures Contract Launches |
| 1982 | $32.80 | $113.86 | 96.5 | — |
Targeted answers to high-frequency historical and economic queries
World Bank: Commodity Price Data (Pink Sheet): Crude oil, WTI — 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 (WTI) Historical Prices and Inflation-Adjusted Series (1982–2025) [Data set]. CommoditiesHistory.com. https://commoditieshistory.com/crude-oil-wti
@dataset{commoditieshistory_crude-oil-wti_2026,
author = {{Commodities History Project}},
title = {Crude Oil (WTI) Historical Prices and Inflation-Adjusted Series (1982–2025)},
year = {2026},
publisher = {CommoditiesHistory.com},
url = {https://commoditieshistory.com/crude-oil-wti}
}