Page 29 - Policy Economic Report - April 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

prices for all three markets, the US, Europe, and Asia. Year-to-date, the ORB value was lower by $5.00, or
6.1%, compared to the previous year, at $76.77/b.

Brent crude ranged an average to $66.74 a barrel and WTI ranged to $63.43 per barrel in the month of
April 2025.

Figure 17: Benchmark price of Brent, WTI and Dubai crude

125
115
105

95
85
75
65
55
45
35
25

Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)

Source- World Bank

• Brent crude price averaged $66.74 per bbl in April 2025, down by 5.9% on a month on month
(MoM) and by 25.0% on year on year (YoY) basis, respectively.

• WTI crude price averaged $63.43 per bbl in April 2025, down by 6.2% on a month on month (MoM)
and by 25.0% on year on year (YoY) basis, respectively.

• Dubai crude price averaged $65.85 per bbl in April 2025, down by 6.0% on a month on month
(MoM) and by 25.2% on year on year (YoY) basis, respectively.

Table 2: Crude oil price in April, 2025

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 66.74
WTI 63.43 -5.9% -25.0%
Dubai 65.85 -6.2% -25.0%
Source- World Bank -6.0% -25.2%

APRIL 2025 Page | 28