OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq.
The 2022 annual average OPEC oil price stood at 100.08 U.S. dollars per barrel. This is up from 69.89 U.S. dollars the previous year and comes in the wake of an energy supply shortage and sanctions on Russia following the Russia-Ukraine war. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and as of March 2023 it includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the Average annual OPEC crude oil price from 1960 to 2023 (in U.S. dollars per barrel)
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Statistics on The history of oil
Prices
5
- Premium Statistic OPEC oil price annually 1960-2023
- Basic Statistic West Texas Intermediate annual average oil price 1976-2023
- Basic Statistic Annual first purchase price of oil in the U.S. 1859-2021
- Basic Statistic Brent crude oil price annually 1976-2023
- Basic Statistic Oil price of Dubai Fateh 1973-2021
Production & Consumption
8
- Premium Statistic Global oil consumption 1970-2021
- Basic Statistic Annual oil production by world region 1965-2021
- Basic Statistic Annual share of primary energy produced by oil per global region 1965-2021
- Premium Statistic Number of global oil rigs 1975-2021
- Premium Statistic Countries with largest conventional oil reserves 2020
- Premium Statistic Countries with the largest oil resources by type 2020
- Basic Statistic Proven U.S. reserves of crude oil 1899-2021
- Basic Statistic Petroleum production in selected East Asian countries 1900-1945, by country
Global trade & companies
7
- Premium Statistic Capacity of oil tankers in seaborne trade 1980-2022
- Premium Statistic Selected global oil companies by daily production 2021
- Premium Statistic Leading global oil and gas producers based on revenue 2022
- Premium Statistic Largest global crude oil importers 2021
- Premium Statistic Petroleum imports into the U.S. by country 1985-2021
- Basic Statistic Petroleum exports from the U.S. 1950-2021
- Premium Statistic Oil production volume in Russia 2021, by company
Crises & Events
8
- Basic Statistic Annual global CO2 emissions by fuel or industry 1800-2021
- Basic Statistic Coal and petroleum output by major power during the Second World War 1940
- Basic Statistic Disruptions to global oil supplies 1956- 2011
- Basic Statistic Development of stagflation indicators 1970-2022
- Premium Statistic WTI crude oil price in times of global crisis 1968-2022
- Premium Statistic Global energy price spikes 1979-2022, by fuel
- Basic Statistic Annual U.S. gasoline prices in times of crisis 1956-2011
- Premium Statistic Global oil and gas industry workforce cuts due to oil crises 2014-2020
Further related statistics
18
- Largest crude oil production increases in a single year by country 1973-2018
- United Kingdom (UK) oil price forecast in U.S. dollars 2017-2024
- Price of Mixed Sweet Blend crude oil 2014-2019
- Share of petroleum in China's total energy consumption 2010-2020
- Petroleum imports from OPEC countries as a share of consumption in the U.S. 2000-2019
- Volume of crude oil stockpile in Saudi Arabia 2015-2018
- Volume of crude oil production in Saudi Arabia 2015-2018
- Oil consumption in Saudi Arabia 1990-2021
- Crude oil import volume from Africa to the European Union (EU-28) in 2019, by country
- Oil consumption in Canada 1990-2021
- U.S. ending stocks of crude oil and petroleum products 1995-2016
- U.S. ending stocks excluding SPR of crude oil and petroleum products
- Average U.S. refiner acquisition cost of domestic crude oil
- Trans Mountain pipeline opposition in Canada 2018-2020, by select province
- Share of oil and gas sector profits to GDP 2013-2018
- Venezuela: Merey crude oil price 2005-2021
- Gas and diesel oil stock in the United Kingdom (UK) 2011-2019
- Annual New York harbor No. 2 heating oil spot prices: 1990-2016
Further Content: You might find this interesting as well
Statistics
- Largest crude oil production increases in a single year by country 1973-2018
- United Kingdom (UK) oil price forecast in U.S. dollars 2017-2024
- Price of Mixed Sweet Blend crude oil 2014-2019
- Share of petroleum in China's total energy consumption 2010-2020
- Petroleum imports from OPEC countries as a share of consumption in the U.S. 2000-2019
- Volume of crude oil stockpile in Saudi Arabia 2015-2018
- Volume of crude oil production in Saudi Arabia 2015-2018
- Oil consumption in Saudi Arabia 1990-2021
- Crude oil import volume from Africa to the European Union (EU-28) in 2019, by country
- Oil consumption in Canada 1990-2021
- U.S. ending stocks of crude oil and petroleum products 1995-2016
- U.S. ending stocks excluding SPR of crude oil and petroleum products
- Average U.S. refiner acquisition cost of domestic crude oil
- Trans Mountain pipeline opposition in Canada 2018-2020, by select province
- Share of oil and gas sector profits to GDP 2013-2018
- Venezuela: Merey crude oil price 2005-2021
- Gas and diesel oil stock in the United Kingdom (UK) 2011-2019
- Annual New York harbor No. 2 heating oil spot prices: 1990-2016
Topics

en2x. (March 6, 2023). Average annual OPEC crude oil price from 1960 to 2023 (in U.S. dollars per barrel) [Graph]. In Statista. Retrieved April 13, 2023, from https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/
en2x. "Average annual OPEC crude oil price from 1960 to 2023 (in U.S. dollars per barrel)." Chart. March 6, 2023. Statista. Accessed April 13, 2023. https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/
en2x. (2023). Average annual OPEC crude oil price from 1960 to 2023 (in U.S. dollars per barrel). Statista. Statista Inc.. Accessed: April 13, 2023. https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/
en2x. "Average Annual Opec Crude Oil Price from 1960 to 2023 (in U.S. Dollars per Barrel)." Statista, Statista Inc., 6 Mar 2023, https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/
en2x, Average annual OPEC crude oil price from 1960 to 2023 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/ (last visited April 13, 2023)
Average annual OPEC crude oil price from 1960 to 2023 (in U.S. dollars per barrel) [Graph], en2x, March 6, 2023. [Online]. Available: https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/