Energy Information Administration - Oil Price

Prof. Robert B. Laughlin
Department of Physics
Stanford University, Stanford, CA 94305

http://tonto.eia.doe.gov/dnav/pet/pet_pri_wco_k_w.htm
(Copied 30 Dec 08)

Assuming a market price of $50/bbl, the cost per joule is

Cost/joule = {$50/bbl] / [6.1 x 109 joules/bbl] = 8.2 x 10-9 $/joule

The conversion factor assumes

4.4 x 107 joules/kg x 139 kg/bbl = 6.1 x 109 joules/bbl


World Crude Oil Prices
(Dollars per Barrel)
Period:
 Weekly 
Crude Type
11/14/08 11/21/08 11/28/08 12/05/08 12/12/08 12/19/08 View
History
Total World
52.19 47.04 45.72 43.12 38.73 40.99 1978-2008
United States
50.23 44.57 43.61 41.07 36.58 37.80 1978-2008
OPEC* Average
52.34 47.85 46.14 43.68 39.11 41.91 1978-2008
Abu Dhabi, Murban 39º
55.48 49.86 46.75 47.19 42.29 45.52 1978-2008
Algeria, Saharan Blend 44º
55.28 50.80 49.38 46.40 41.65 44.42 1978-2008
Angola, Cabinda 32º
51.54 47.02 46.28 43.50 38.98 41.86 1989-2008
Dubai, Fateh 32º
52.15 46.87 43.84 44.13 39.54 42.95 1978-2008
Ecuador, Oriente 30º
42.59 36.21 33.81 30.56 30.00 30.69 1978-2008
Indonesia, Minas 34º
58.99 54.83 51.82 46.56 42.01 44.50 1978-2008
Iran, Heavy 30º
50.90 46.29 44.97 42.22 37.94 40.15 1978-2008
Iran, Light 34º
53.02 48.49 47.17 44.43 40.13 42.30 1978-2008
Iraq, Kirkuk 36º
51.68 47.41 47.01 43.67 39.27 41.59 1978-2008
Kuwait, Kuwait 31º
49.15 43.88 40.87 40.24 35.69 39.19 1978-2008
Libya, Es Sider 37º
54.08 48.98 48.24 45.67 41.23 43.50 1978-2008
Neutral Zone, Khafji 28º
51.46 48.02 46.36 43.67 38.40 41.90 1999-2008
Nigeria, Bonny Light 37º
57.56 52.68 51.42 48.48 44.02 47.03 1978-2008
Nigeria, Forcados 31º
58.52 53.68 52.40 49.42 44.90 47.85 1978-2008
Qatar, Dukhan 40º
54.15 48.77 45.65 44.87 39.77 43.22 1978-2008
Saudi Arabia, Arabian Heavy 27º
46.71 43.27 41.61 38.62 33.35 36.85 1978-2008
Saudi Arabia, Arabian Light 34º
51.46 48.02 46.36 43.67 38.40 41.90 1978-2008
Saudi Arabia, Arabian Medium 31º
48.61 45.17 43.51 40.62 35.35 38.85 1978-2008
Venezeula, Bachaquero 17º
NA NA NA NA NA NA 1978-2008
Venezeula, Bachaquero 24º
NA NA NA NA NA NA 1978-2008
Venezuela, Tia Juana Light 31º
51.73 46.09 44.42 40.68 38.52 38.54 1978-2008
Non-OPEC* Average
52.01 46.03 45.21 42.44 38.26 39.85 1978-2008
Australia, Gippsland 42º
54.16 47.04 44.88 45.41 42.24 44.68 1989-2008
Brunei, Seria Light 37º
            1978-2003
Cameroon, Kole 34º
50.96 46.91 45.36 42.48 37.52 40.44 1989-2008
Canada, Canadian Par 40º
54.46 44.90 45.57 43.32 34.78 36.43 1993-2008
Canada, Heavy Hardisty 22º
45.67 37.23 37.43 35.70 28.32 29.89 2007-2008
Canada, Lloyd blend 22º
            1989-2007
China, Daqing 33º
51.35 46.97 44.38 41.72 40.51 42.96 1978-2008
Colombia, Cano Limon 30º
59.24 53.45 51.01 47.66 46.02 45.99 1989-2008
Egypt, Suez Blend 33º
50.17 45.35 44.47 40.62 35.87 39.14 1978-2008
Gabon, Mandji 30º
NA NA NA NA NA NA 1978-2008
Malaysia, Tapis Blend 44º
59.65 53.87 50.75 48.87 45.29 47.76 1978-2008
Mexico, Isthmus 33º
51.62 45.98 44.31 40.57 38.41 38.43 1978-2008
Mexico, Maya 22º
40.77 35.99 35.21 33.97 33.01 33.72 1989-2008
Norway, Ekofisk Blend 42º
56.71 51.32 49.43 45.80 41.00 43.89 1978-2008
Oman, Oman Blend 34º
52.25 46.99 44.00 44.45 39.93 43.53 1978-2008
Russia, Urals 32º
52.15 46.55 46.36 42.91 39.77 40.72 1978-2008
United Kingdom, Brent Blend 38º
53.32 49.15 48.96 45.15 41.17 42.68 1989-2008
- = No Data Reported;  -- = Not Applicable;  NA = Not Available;  W = Withheld to avoid disclosure of individual company data.
Notes: *Countries listed under OPEC and non-OPEC are based on current affiliations. OPEC and non-OPEC averages are based on affiliations for the stated period of time which may differ from current affiliations. Angola joined OPEC in January 2007, Ecuador withdrew from OPEC in January 1993 and rejoined in November 2007, and Gabon withdrew from OPEC in July 1996. Estimated contract prices based on government-selling prices, netback values, or spot market quotations. All prices are f.o.b. at the foreign port of landing except where noted; 30 day payment plan except where noted. Iraq, Kirkuk 36º is the netback price at the U.S. Gulf. Total OPEC is the netback price at the U.S. Gulf. Total World, United States, OPEC, and Non-OPEC are average prices (f.o.b.) weighted by estimated export volume. Egypt, Suez Blend 33º is on 60 days credit. Effective with the week ending July 6, 2007, Llolyd Blend crude stream data are no longer available; a similar crude stream Heavy Hardisty has replaced this category. Brunei, Seria Light 37º contract prices are no longer available for use in weekly calculations. Russia, Urals 32º price (f.o.b.) to Mediterranean destinations; also called Urals. United States average price (f.o.b.) is weighted by estimated import volume. The Canadian crude prices have been changed to U.S. dollars.  See Definitions, Sources, and Notes link above for more information on this table.
Release Date: 12/24/2008
Next Release Date: 12/31/2008