Page 31 - Policy Economic Report - August 2025
P. 31
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
sour differentials widened, supported by robust fundamentals in the light sweet crude market and a slight
easing in sour crude values.
In July, the OPEC Reference Basket (ORB) value increased by $1.24, m-o-m, to settle at $70.97/b as most
ORB component values rose, supported primarily by the higher value of the Dubai benchmark and higher
crude differentials.
Brent crude ranged an average to $67.03 a barrel and WTI ranged to $64.18 per barrel in the month of
August 2025.
Figure 15: Benchmark price of Brent, WTI and Dubai crude
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Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)
Source- World Bank
• Brent crude price averaged $67.03 per bbl in August 2025, down by 3.1% on a month on month (MoM)
and by 15.1% on year on year (YoY) basis, respectively.
• WTI crude price averaged $64.18 per bbl in August 2025, down by 4.3% on a month on month (MoM)
and by 15.3% on year on year (YoY) basis, respectively.
• Dubai crude price averaged $66.17 per bbl in August 2025, down by 3.1% on a month on month
(MoM) and by 15.3% on year on year (YoY) basis, respectively.
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