| Table 12 World Crude Oil Prices | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1973 | 1975 | 1980 | 1990 | 1992 | 1993 | 1994 | 1995 | 1996 | ||
| OPEC official average sales pricea | ||||||||||
| US $ per barrel | 3.39b | 11.02 | 30.87 | 21.76 | 18.33 | 16.08 | 15.44 | 16.84 | 19.83 | |
| 1996 US $ per barrelc | 10.51 | 28.65 | 56.07 | 25.50 | 20.11 | 17.19 | 16.15 | 17.17 | 19.83 | |
| World average price | ||||||||||
| US $ per barrel | NA | NA | NA | 22.12 | 18.24 | 16.13 | 15.27 | 16.62 | 19.75 | |
| 1996 US $ per barrelc | NA | NA | NA | 25.92 | 20.01 | 17.25 | 15.97 | 16.94 | 19.75 | |
a F.o.b. prices set by the OPEC governments for direct sales and, in most cases, for the producing company buy-back oil. Weighted by the volume of production.
b Posted prices.
c Nominal price deflated by the US GDP price deflator.