EPRS Admin By / June 15, 2022

Oil price in the EU

Brent Crude oil (US$ per barrel)

Brent Crude oil (US$ per barrel)

Brent Crude is a major benchmark price for purchases of oil worldwide. Brent Crude oil is drilled out from the North Sea, but oil production from Europe, Africa and the Middle East flowing West tends to be priced relative to this benchmark. Prices are given in Trading Economics and are intended to provide reference only. The graph presents five years of daily data. Brent Crude rose sharply to US$111.54 per barrel on 20 May 2022 – an increase of 67.82 % compared to May 2021 and a decrease of -0.45 % from the previous day (19 May 2022).


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