Page 27 - Policy Economic Report - December 2024
P. 27
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Brent crude ranged an average to $72.98 a barrel and WTI ranged to $69.61 per barrel in the month of
December 2024.
Figure 18: Benchmark price of Brent, WTI and Dubai crude
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Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)
Source- World Bank
• Brent crude price averaged $72.98 per bbl in December 2024, down by 0.6% on a month on month
(MoM) and by 6.0% on year on year (YoY) basis, respectively.
• WTI crude price averaged $69.61 per bbl in December 2024, down by 0.1% on a month on month
(MoM) and by 3.9% on year on year (YoY) basis, respectively.
• Dubai crude price averaged $72.12 per bbl in December 2024, down by 0.6% on a month on month
(MoM) and by 6.1% on year on year (YoY) basis, respectively.
Table 2: Crude oil price in December, 2024
Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 72.98
WTI 69.61 -0.6% -6.0%
Dubai 72.12 -0.1% -3.9%
Source- World Bank -0.6% -6.1%
December 2024 Page | 26
