Global Price of WTI Crude Oil Monthly (IMF PCPS via FRED) (1992-2026)
This dataset tracks the monthly global price of West Texas Intermediate (WTI) crude oil as compiled by the International Monetary Fund Primary Commodity Price System (PCPS) and published by the Federal Reserve Economic Data (FRED). Prices are measured in US dollars per barrel, spanning 411 observations from January 1992 through March 2026.
WTI crude oil started 1992 at $18.81 per barrel and reached its all-time peak of $133.96 in July 2008, before experiencing a severe contraction that brought prices to a low of $11.27 in December 1998. By March 2026, the price had stabilized at $91.38 per barrel, reflecting substantial volatility but a long-term compound annual growth rate (CAGR) of 4.76% over the full period.
The price trajectory reveals two distinct market regimes; the early 2000s boom culminating in 2008 was driven by surging global demand and geopolitical constraints, while the subsequent decade saw new supply sources (shale oil, OPEC strategy shifts) dampen the sustained price elevation. The current level of $91.38, above the 34-year average of $53.32, suggests that structural demand and supply dynamics continue to support crude above historical median levels, despite periodic downturns from macroeconomic shocks.
This dataset tracks the monthly global price of West Texas Intermediate (WTI) crude oil as compiled by the International Monetary Fund Primary Commodity Price System (PCPS) and published by the Federal Reserve Economic Data (FRED). Prices are measured in US dollars per barrel, spanning 411 observations from January 1992 through March 2026.
Source: FRED
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