Crude oil prices on October 04, 2023 – Price per barrel

oil price

Oil prices are key indicators for the global economy and financial markets. The price of oil affects many sectors, from the automotive industry to energy, agriculture and transportation.

Comparing crude oil prices between 03 and 04 October, we note:

  • WTI crude oil price decline from 89,23$ to 84,22$
  • Brent oil price drop from 90,92$ to 85,81$
  • OPEC basket price decline from 93,56$ to 92,35$

The following is an overview of key oil price data as of 04 October 2023, based on the following benchmarks:

Oil price per barrel in dollars

Index

04 October

03 October

% change

WTI Crude

84,22

89,23

-5,6%

Brent Crude

85,81

90,92

-5,6%

Opec Basket

92,35

93,56

-1,3%

 

Factors influencing the price of oil

Oil prices are influenced by a multitude of factors, such as global supply and demand, geopolitical tensions, the production policies of exporting countries, global economic conditions and currency fluctuations. These factors can lead to daily changes in oil prices on international markets.

Terminology

Term

Definition

WTI Crude

Is a high-quality, low-sulfur type of crude oil extracted primarily from wells in the United States, used as a benchmark for oil pricing in the Americas.

Brent Crude

Is a type of crude oil that is extracted from the North Sea. It is a widely used benchmark for global oil pricing and serves as a reference point for setting prices of crude oil worldwide

Opec Basket

Is a weighted average of crude oil prices from selected OPEC member countries, used as a benchmark for pricing OPEC’s oil exports.

 

What's happening in Tunisia?
Subscribe to our Youtube channel for updates.

Top 48h

Copyright © 2019 Tunisie Numerique

To Top