Merey crude oil price 2005-2023

Published by Statista Research Department, Jul 26, 2024

In 2023, the price of Merey crude oil – Venezuela’s reference blend – averaged 64.37 U.S. dollars per barrel. The highest annual average was recorded in 2012, at more than 100 dollars per barrel. A part of the OPEC Reference Basket since January 2009, Venezuela’s export oil is the basket's heaviest component, and in turn has historically reported the lowest average price.

Average Venezuela's Merey crude oil price from 2005 to 2023 (in U.S. dollars per barrel)

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Release date

2024

Region

Venezuela

Survey time period

2005 to 2023

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