Page 27 - Policy Economic Report - September 2024
P. 27
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
Figure 12: Benchmark price of Brent, WTI and Dubai crude
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100
75
50
25
0
Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)
Source- World Bank
• Brent crude price averaged $72.90 per bbl in September 2024, down by 7.7% on a month on month
(MoM) and by 20.3% on year on year (YoY) basis, respectively.
• WTI crude price averaged $69.82 per bbl in September 2024, down by 7.9% on a month on month
(MoM) and by 21.0% on year on year (YoY) basis, respectively.
• Dubai crude price averaged $72.02 per bbl in September 2024, down by 7.8% on a month on month
(MoM) and by 20.5% on year on year (YoY) basis, respectively.
Table 2: Crude oil price in September, 2024
Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 72.90
WTI 69.82 -7.7% -20.3%
Dubai 72.02 -7.9% -21.0%
Source- World Bank -7.8% -20.5%
September 2024 Page | 26
