Page 35 - Policy Economic Report_Mar'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Sider, Rabi Light, Sahara Blend and Zafiro – fell by an average of $3.99, or 5.1%, m-o-m, to $74.30/b, and
multiple-region destination grades – Arab Light, Basrah Medium, Iran Heavy and Kuwait Export –
decreased on average by $2.23, or 2.8%, m-o-m, to settle at $77.47/b. Murban crude fell by $2.79, or
3.5%, m-o-m, on average to settle at $77.62/b. The Merey component decreased m-o-m by $1.90, or
2.8%, on average, to settle at $64.96/b.

Brent crude ranged an average to $70.90 a barrel and WTI ranged to $67.65 per barrel in the month of
March 2025.

Figure 16: 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 $70.90 per bbl in March 2025, down by 5.7% on a month on month
(MoM) and by 15.6% on year on year (YoY) basis, respectively.

? WTI crude price averaged $67.65 per bbl in March 2025, down by 5.4% on a month on month
(MoM) and by 15.2% on year on year (YoY) basis, respectively.

? Dubai crude price averaged $70.04 per bbl in March 2025, down by 5.7% on a month on month
(MoM) and by 15.7% on year on year (YoY) basis, respectively.

Table 2: Crude oil price in March, 2025

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 70.90
WTI 67.65 -5.7% -15.6%
Dubai 70.04 -5.4% -15.2%
Source- World Bank -5.7% -15.7%

March 2025 Page | 34