RE: Dog of a Share…14 Oct 2025 12:19
There is no single figure for the price OPEC nations need, as it varies by country. However, analysts suggest that a price of around $70-$75 per barrel is likely needed to balance the budgets of many OPEC members, especially Saudi Arabia and other Gulf states. More recently, the price of the OPEC basket was trading around $66.26 in early October 2025, but it can fluctuate based on global demand and supply.
Budgetary needs: The price needed for a country's budget varies greatly. Saudi Arabia's budget requires a price of around $70-$75 per barrel, whereas countries like Nigeria or Iran require a lower price to balance their budgets, while other countries like Iran need a much higher price to balance their budget.
Price benchmarks: In early October 2025, the OPEC basket price was approximately $66.26.
Price volatility: The price can fluctuate due to a variety of factors, including global demand, supply-side disruptions, and geopolitical events. In the past, prices have been influenced by factors such as increased US-China tensions, which caused prices to drop, or a ceasefire in Gaza, which eased geopolitical tensions and slightly increased prices.
Market dynamics: OPEC+ is trying to navigate the market by balancing the needs of member countries with the global supply and demand dynamics. This is why they are cautious about increasing output, even though they have the capacity to do so.
Global oil markets - EIA
As a result, some of the crude oil price declines will likely reflect the higher marginal cost of storage. We forecast that invent...
U.S. Energy Information Administration (EIA) (.gov)
Crude oil price chart 2020-2025 - Statista
Weekly oil prices in Brent, OPEC basket, and WTI futures 2020-2025. ... On October 6, 2025, the Brent crude oil price stood at 65.
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