Figure 9. Brent crude oil prices, 1994–2015 and projected 2024 (current dollars per barrel)
Year Brent crude history BLS base scenario BLS high scenario BLS low scenario

1994

$15.8

1995

17.0

1996

20.6

1997

19.1

1998

12.8

1999

17.8

2000

28.5

2001

24.5

2002

25.0

2003

28.9

2004

38.2

2005

54.4

2006

65.1

2007

72.5

2008

96.8

2009

61.5

2010

79.5

2011

111.3

2012

111.6

2013

108.6

2014

99.0

2015

56.2

2016

61.9 64.8 59.0

2017

67.6 73.3 61.9

2018

73.3 81.9 64.7

2019

78.9 90.4 67.5

2020

84.6 98.9 70.3

2021

90.3 107.5 73.1

2022

95.9 116.0 75.9

2023

101.6 124.6 78.7

2024

107.3 133.1 81.5

Note: Dash indicates data not computable or not applicable.

Sources: Historical data, U.S. Bureau of Labor Statistics; 2015 data, Federal Reserve Bank of St. Louis, Federal Reserve Economic Data database; projected data, U.S. Energy Information Administration.