Oil Prices in the 2020s: WTI & Brent Decade Averages
Data in this decade covers 2020–2026 (through the latest published observation).
The 2020s include the lowest daily WTI spot price in EIA's records, −$36.98 on Apr 20, 2020. Across the 2020s so far (2020 through Oct 20, 2026), WTI averaged $72.25 per barrel, the mean of 82 monthly averages; that is lower by $0.17 (0.2%) than the 2010s, comparing a decade in progress with a complete one.
By year, the highest WTI average was $94.90 in 2022 and the lowest $39.16 in 2020. The biggest annual increase came in 2021, up $28.97; the largest decline was $17.32 in 2023. Daily prices ranged from −$36.98 (Apr 20, 2020) to $123.64 (Mar 8, 2022).
Annual average prices, 2020s
| Year | WTI avg | vs prior year | WTI high | WTI low | Brent avg | Brent − WTI | WTI (September 2026 $) | Brent (September 2026 $) |
|---|---|---|---|---|---|---|---|---|
| 2020 | $39.16 | — | $63.27 | −$36.98 | $41.96 | +$2.49 | $50.98 | $54.63 |
| 2021 | $68.13 | +74.0% | $85.64 | $47.47 | $70.86 | +$2.72 | $84.72 | $88.11 |
| 2022 | $94.90 | +39.3% | $123.64 | $71.05 | $100.93 | +$6.04 | $109.26 | $116.20 |
| 2023 | $77.58 | −18.3% | $93.67 | $66.61 | $82.49 | +$4.89 | $85.79 | $91.22 |
| 2024 | $76.63 | −1.2% | $87.69 | $66.73 | $80.52 | +$3.90 | $82.31 | $86.49 |
| 2025 | $65.39 | −14.7% | $80.73 | $55.44 | $69.14 | +$3.58 | $68.44 | $72.36 |
| 2026 (to date) | $86.23 | +31.9% | $114.58 | $56.01 | $95.34 | +$9.71 | $87.45 | $96.69 |
Brent averaged $76.93 over 82 months. On 1,670 dates with both prices published, Brent was on average $4.62 above WTI.
In September 2026 dollars, using CPI-U month by month, the decade's WTI average is about $81.07 per barrel, based on 80 of the 82 months (months without published CPI-U are left out).
Compared with adjacent decades
| Decade | WTI average | WTI (September 2026 $) | Brent average | Highest WTI | Date | Lowest WTI | Date |
|---|---|---|---|---|---|---|---|
| 2010s | $72.42 | $103.91 | $79.57 | $113.39 | Apr 29, 2011 | $26.19 | Feb 11, 2016 |
| 2020s | $72.25 | $81.07 | $76.93 | $123.64 | Mar 8, 2022 | −$36.98 | Apr 20, 2020 |
Decade averages are the mean of monthly averages (EIA's published monthly figures where available). Real values adjust each month with that month's CPI-U; months without published CPI-U are omitted from the real average.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB | $/bbl | Jan 2, 2020 – Oct 20, 2026 | Oct 20, 2026 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB | $/bbl | Jan 2, 2020 – Oct 20, 2026 | Oct 20, 2026 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly and annual average | September 2026 |
Last updated: Oct 21, 2026, 5:27 PM CDT. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:Annual averages (CSV)Inflation-adjusted annual (CSV)