FX & Commodity Almanac

ECB fixings to 16 Oct 2026 · World Bank prices to September 2026

Energy · World Bank monthly average

What is the Dubai crude oil price and how has it changed?

Dubai crude oil averaged 93.30 US dollars per barrel in September 2026, according to the World Bank Pink Sheet. That is 17.1% above Aug 2026 and 37.6% above Sept 2025, and in the top quarter of all monthly averages since January 2000.

Sept 2026 average
93.30$/bbl · US dollars per barrel
Month on month
▲ +17.1%from 79.70 in Aug 2026
Year on year
▲ +37.6%from 67.80 in Sept 2025
12-month range
62.00–94.70low Dec 2025 · high May 2026

The last five years

Dubai crude oil, monthly average price, last five yearsDubai crude oil from 72.20 $/bbl in Sept 2021 to 93.30 in Sept 2026; five-year high 115.70 (Jun 2022), low 62.00 (Dec 2025). 60708090100110120 20222023202420252026
Monthly averages, Sept 2021 – Sept 2026, $/bbl. Yellow dot: latest month.

What the record shows

  1. Over five years the price ranged from 62.00 (Dec 2025) to 115.70 (Jun 2022). Sept 2026 sits 58% of the way from that low to the high.
  2. Since January 2000 the record high is 131.20 (Jul 2008) and the low 17.50 (Nov 2001). The latest month is higher than 82% of the 321 monthly averages in that span, in nominal dollars (not adjusted for inflation).
  3. The highest full-year average since 2000 was 2012 (108.91); the lowest was 2001 (22.70).
  4. Annualised volatility of monthly changes over the past five years was 28.8%, close to the 32.4% for the whole record since 2000. Monthly averages smooth out intra-month swings, so daily markets move more than this.
  5. Five years earlier, in Sept 2021, the average was 72.20: the price is 29.2% above that level.

Yearly averages

Dubai crude oil yearly average, change, high month and low month
YearAveragevs prior yearHighest monthLowest month
2026 9 mo. 82.11 ▲ +20.1% 94.70 May 63.90 Jan
2025 68.35 ▼ −14.2% 80.10 Jan 62.00 Dec
2024 79.67 ▼ −2.8% 89.40 Apr 72.80 Nov
2023 81.98 ▼ −15.5% 93.10 Sep 74.70 Jun
2022 97.05 ▲ +41.0% 115.70 Jun 76.80 Dec
2021 68.83 ▲ +63.2% 81.20 Oct 54.20 Jan
2020 42.18 ▼ −33.2% 63.80 Jan 23.30 Apr
2019 63.17 ▼ −8.6% 70.70 Apr 58.50 Oct
2018 69.15 ▲ +30.2% 79.00 Oct 56.50 Dec
2017 53.13 ▲ +28.9% 61.40 Dec 46.40 Jun
2016 41.20 ▼ −19.5% 51.80 Dec 27.00 Jan
2015 51.19 ▼ −47.0% 63.70 May 34.80 Dec
2014 96.66 ▼ −8.3% 108.00 Jun 60.50 Dec
2013 105.44 ▼ −3.2% 111.10 Feb 100.30 May
2012 108.91 ▲ +2.7% 122.30 Mar 94.20 Jun
2011 106.05 ▲ +35.8% 115.70 Apr 92.40 Jan
2010 78.08 ▲ +26.4% 89.10 Dec 72.70 Jul
2009 61.76 ▼ −34.1% 77.60 Nov 43.10 Feb
2008 93.78 ▲ +37.2% 131.20 Jul 41.00 Dec
2007 68.38 ▲ +11.3% 86.70 Nov 52.00 Jan
2006 61.43 ▲ +24.6% 69.00 Jul 56.50 Oct

Average = simple mean of the monthly averages published for that year. Rows in italics are incomplete years. Table shows 2006 onward; the charts and statistics use the full record from Jan 2000.

Since January 2000

Dubai crude oil, monthly average price since January 2000Dubai crude oil monthly averages from Jan 2000 to Sept 2026; highest 131.20 $/bbl in Jul 2008, lowest 17.50 in Nov 2001. 020406080100120140 200020032006200920122015201820212024
Monthly averages, nominal US dollars ($/bbl).

Largest one-month moves since 2000

MonthFromToMove
Mar 202054.5033.80▼ −38.0%
May 202023.3031.60▲ +35.6%
Mar 202668.4091.90▲ +34.4%
Apr 202033.8023.30▼ −31.1%
Oct 200896.0068.60▼ −28.5%

What exactly is being priced?

Crude oil, Dubai Fateh 32° API (1985 onward). The World Bank publishes the series as a monthly average in US dollars per barrel ($/bbl). Benchmark definitions occasionally change, as noted above, so very long comparisons mix slightly different contracts. See commodity price units explained for converting units.

Sources