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 39
55.48 49.86 46.75 47.19 42.29 45.52 1978-2008
Algeria, Saharan Blend 44
55.28 50.80 49.38 46.40 41.65 44.42 1978-2008
Angola, Cabinda 32
51.54 47.02 46.28 43.50 38.98 41.86 1989-2008
Dubai, Fateh 32
52.15 46.87 43.84 44.13 39.54 42.95 1978-2008
Ecuador, Oriente 30
42.59 36.21 33.81 30.56 30.00 30.69 1978-2008
Indonesia, Minas 34
58.99 54.83 51.82 46.56 42.01 44.50 1978-2008
Iran, Heavy 30
50.90 46.29 44.97 42.22 37.94 40.15 1978-2008
Iran, Light 34
53.02 48.49 47.17 44.43 40.13 42.30 1978-2008
Iraq, Kirkuk 36
51.68 47.41 47.01 43.67 39.27 41.59 1978-2008
Kuwait, Kuwait 31
49.15 43.88 40.87 40.24 35.69 39.19 1978-2008
Libya, Es Sider 37
54.08 48.98 48.24 45.67 41.23 43.50 1978-2008
Neutral Zone, Khafji 28
51.46 48.02 46.36 43.67 38.40 41.90 1999-2008
Nigeria, Bonny Light 37
57.56 52.68 51.42 48.48 44.02 47.03 1978-2008
Nigeria, Forcados 31
58.52 53.68 52.40 49.42 44.90 47.85 1978-2008
Qatar, Dukhan 40
54.15 48.77 45.65 44.87 39.77 43.22 1978-2008
Saudi Arabia, Arabian Heavy 27
46.71 43.27 41.61 38.62 33.35 36.85 1978-2008
Saudi Arabia, Arabian Light 34
51.46 48.02 46.36 43.67 38.40 41.90 1978-2008
Saudi Arabia, Arabian Medium 31
48.61 45.17 43.51 40.62 35.35 38.85 1978-2008
Venezeula, Bachaquero 17
NA NA NA NA NA NA 1978-2008
Venezeula, Bachaquero 24
NA NA NA NA NA NA 1978-2008
Venezuela, Tia Juana Light 31
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 42
54.16 47.04 44.88 45.41 42.24 44.68 1989-2008
Brunei, Seria Light 37
            1978-2003
Cameroon, Kole 34
50.96 46.91 45.36 42.48 37.52 40.44 1989-2008
Canada, Canadian Par 40
54.46 44.90 45.57 43.32 34.78 36.43 1993-2008
Canada, Heavy Hardisty 22
45.67 37.23 37.43 35.70 28.32 29.89 2007-2008
Canada, Lloyd blend 22
            1989-2007
China, Daqing 33
51.35 46.97 44.38 41.72 40.51 42.96 1978-2008
Colombia, Cano Limon 30
59.24 53.45 51.01 47.66 46.02 45.99 1989-2008
Egypt, Suez Blend 33
50.17 45.35 44.47 40.62 35.87 39.14 1978-2008
Gabon, Mandji 30
NA NA NA NA NA NA 1978-2008
Malaysia, Tapis Blend 44
59.65 53.87 50.75 48.87 45.29 47.76 1978-2008
Mexico, Isthmus 33
51.62 45.98 44.31 40.57 38.41 38.43 1978-2008
Mexico, Maya 22
40.77 35.99 35.21 33.97 33.01 33.72 1989-2008
Norway, Ekofisk Blend 42
56.71 51.32 49.43 45.80 41.00 43.89 1978-2008
Oman, Oman Blend 34
52.25 46.99 44.00 44.45 39.93 43.53 1978-2008
Russia, Urals 32
52.15 46.55 46.36 42.91 39.77 40.72 1978-2008
United Kingdom, Brent Blend 38
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 36 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 33 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 37 contract prices are no longer available for use in weekly calculations. Russia, Urals 32 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