Page 34 - Policy Economic Report_Feb'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Brent crude ranged an average to $75.15 a barrel and WTI ranged to $71.50 per barrel in the month of
January 2025.

Figure 10: 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 $75.15 per bbl in February 2025, down by 3.5% on a month on month
(MoM) and by 8.2% on year on year (YoY) basis, respectively.

• WTI crude price averaged $71.50 per bbl in February 2025, down by 4.9% on a month on month
(MoM) and by 6.6% on year on year (YoY) basis, respectively.

• Dubai crude price averaged $74.26 per bbl in February 2025, down by 3.5% on a month on month
(MoM) and by 8.1% on year on year (YoY) basis, respectively.

Table 2: Crude oil price in February, 2025

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 75.15
WTI 71.50 -3.5% -8.2%
Dubai 74.26 -4.9% -6.6%
Source- World Bank -3.5% -8.1%

February 2025 Page | 33