Page 31 - Policy Economic Report - Jan 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 11: Benchmark price of Brent, WTI and Dubai crude

125
115
105

95
85
75
65
55
45
35
25

Brent Spot Price ($/bbl) WTI Spot Price ($/bbl) Dubai spot price ($/bbl)

Source - World Bank

• Brent crude price averaged $64.01 per bbl in January 2026, up by 3.9% on a month on month (MoM)
and down by 17.8% on year on year (YoY) basis, respectively.

• WTI crude price averaged $59.78 per bbl in January 2026, up by 3.1% on a month on month (MoM)
and down by 20.05% on year on year (YoY) basis, respectively.

• Dubai crude price averaged $63.15 per bbl in January 2026, up by 3.9% on a month on month (MoM)
and down by 18.0% on year on year (YoY) basis, respectively.

Table 1: Crude oil price in December, 2025

Crude oil Price ($/bbl) MoM YoY
(%) change (%) change
Brent 64.01
WTI 59.78 3.9% -17.8%
Dubai 63.15 3.1% -20.5%
Source - World Bank 3.9% -18.0%

January 2026 Page | 30