Table 13. World Crude Oil Prices1 (Dollars per Barrel) Country Type of Crude/ In Effect: API Gravity2 17-Oct 10-Oct 4-Jan 5-Jan 6-Jan 7-Jan 2-Jan 6-Jan 2008 2008 2008 2007 2006 2005 2004 1978 -------------------------------------------------------------------------------- OPEC Abu Dhabi Murban 39° 72.77 82.06 94.85 61.39 59.74 38.74 29.87 13.26 Algeria Saharan Blend 44° 73.13 85.18 98.28 59.77 60.96 40.89 29.92 14.10 Angola6 Cabinda 32° 68.91 80.93 92.29 54.93 56.51 35.32 29.31 NA Dubai Fateh 32° 69.19 78.50 90.19 56.43 55.53 34.44 27.93 12.64 Ecuador6 Oriente 30° 60.57 72.85 85.46 47.92 46.37 26.59 26.49 12.35 Indonesia Minas 34° 78.39 86.20 98.34 62.31 58.63 38.25 32.10 13.55 Iran Iranian Heavy 30° 68.80 80.60 92.76 51.92 54.07 32.98 27.52 12.49 Iranian Light 34° 70.60 82.64 94.96 53.77 56.07 35.73 28.67 13.45 Iraq3 Kirkuk 36° 69.46 81.30 92.23 52.51 54.91 34.62 26.67 13.17 Kuwait Kuwait 31° 66.93 76.08 88.20 53.35 53.61 31.86 27.89 12.22 Libya Es Sider 37° 71.28 83.49 96.79 56.83 58.94 39.21 29.47 13.68 Neutral Zone Khafji 28° 69.71 81.13 93.02 53.48 55.01 34.05 27.08 12.03 Nigeria Bonny Light 37° 76.24 88.24 98.52 60.64 60.76 40.22 29.97 15.12 Forcados 31° 76.70 88.63 98.47 60.64 60.91 40.12 29.70 13.70 Qatar Dukhan 40° 72.30 81.73 94.20 59.90 59.49 38.14 28.59 13.19 Saudi Arabia Arabian Heavy 27° 65.26 76.68 88.07 49.83 50.41 27.95 25.38 12.02 Arabian Light 34° 69.71 81.13 93.02 53.48 55.01 34.05 27.08 12.70 Arabian Medium 31° 67.06 78.48 90.27 51.53 52.86 30.60 26.13 12.32 Venezuela Bachaquero 17° NA NA NA NA NA NA NA 11.38 Bachaquero 24° NA NA NA NA NA NA NA 12.39 Tia Juana Light 31° 71.78 85.26 93.85 52.60 56.45 36.49 30.10 13.54 Total OPEC4 70.46 81.78 93.56 55.06 56.18 35.21 28.22 13.03 Non-OPEC Australia Gippsland 42° 75.37 84.83 98.72 62.28 62.75 40.92 31.64 NA Brunei7 Seria Light 37° NA NA NA NA NA NA NA 14.15 Cameroon Kole 34° 69.10 81.55 93.90 54.41 57.50 34.72 29.12 NA Canada Canadian Par 40° 74.35 84.37 94.72 57.12 58.94 41.32 30.49 NA Heavy Hardisty 22° 66.55 76.72 65.38 NA NA NA NA NA China Daqing 33° 71.07 79.81 95.08 59.33 57.67 37.69 31.85 13.73 Colombia Cano Limon 30° 75.91 88.14 92.97 54.61 57.55 37.39 29.49 NA Egypt5 Suez Blend 33° 66.60 79.53 91.53 50.91 53.72 33.94 25.67 12.81 Gabon6 Mandji 30° NA NA NA NA NA NA NA 12.59 Malaysia Tapis Blend 44° 79.40 88.26 100.53 63.47 65.56 41.53 31.90 14.30 Mexico Isthmus 33° 71.67 85.15 93.74 52.49 56.34 36.37 29.99 13.10 Maya 22° 62.93 76.68 82.78 44.17 45.99 28.31 24.37 NA Norway Ekofisk Blend 42° 73.39 85.34 98.23 57.20 60.91 40.48 29.61 14.20 Oman Oman Blend 34° 69.76 78.75 90.50 57.16 56.38 35.48 28.45 13.06 Russia8 Urals 32° 70.12 81.82 93.98 52.36 56.07 36.14 27.42 13.20 United Kingdom Brent Blend 38° 71.95 83.80 98.42 56.66 60.93 41.39 29.73 NA Total Non-OPEC4 70.77 82.27 92.15 54.32 54.35 35.12 27.84 13.44 Total World4 70.60 82.00 92.93 54.63 55.12 35.16 28.00 13.08 United States9 69.28 80.91 88.41 51.57 53.28 33.79 27.63 13.38 ------------------------------------------------------------------------------------------- 1 Estimated contract prices based on government-selling prices, netback values, or spotmarket quotations. All prices are f.o.b. at the foreign port of lading except where noted; 30 day payment plan except where noted. See Appendix A for procedure used for calculation of world oil prices. 2 An arbitrary scale expressing the gravity or density of liquid petroleum products. 3 Netback price at U.S. Gulf. 4 Average prices (f.o.b.) weighted by estimated export volume. 5 On 60 days credit. 6 Ecuador rejoined OPEC effective November 2007. Effective July 1996, Gabon withdrew from OPEC. Effective January 2007, Angola became a member of OPEC. Prices have been adjusted accordingly. 7 Brunei contract prices no longer available for use in weekly calculations. 8 Price (f.o.b.) to Mediterranean destinations; also called Urals. 9 Average prices (f.o.b.) weighted by estimated import volume. Notes: The Canadian crude prices have been changed to U.S. dollars. Effective with the week ending July 6, 2007, Lloyd Blend crude stream data are no longer available; a similar crude stream Heavy Hardisty has replaced this category. NA=Not Applicable. R=Revised data. Sources: (the complete url below appears on two lines) http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_ status_report/current/pdf/sources.pdf