Does trading economics verify data on Brent crude oil?

Trading Economics does not verify any data and disclaims any obligation to do so. Brent increased 6.38 USD/BBL or 8.28% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on May of 2024.

How will global oil prices change in 2024?

Global oil prices. We expect voluntary OPEC+ crude oil production cuts and ongoing geopolitical risks will keep the Brent crude oil spot price near $90 per barrel (b) for the remainder of 2024 before falling to an average of $85/b in 2025 as global oil production growth picks up. Global oil production tables.

Where does Brent crude oil come from?

While Brent Crude oil is sourced from the North Sea the oil production coming from Europe, Africa and the Middle East flowing West tends to be priced relative to this oil. The Brent prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.