Oil Prices in December 1994: WTI & Brent Daily Prices and Monthly Average
WTI averaged $17.16 per barrel in December 1994, down $0.91 (5.0%) from November 1994. A year earlier, in December 1993, it averaged $14.52, so the price was higher by $2.64 (18.2%) year over year.
Daily spot prices, December 1994
Chart data table (21 rows; WTI on 21, Brent on 20)
| Period | WTI | Brent |
|---|---|---|
| Dec 30, 1994 | $17.77 | $16.23 |
| Dec 29, 1994 | $17.69 | $16.25 |
| Dec 28, 1994 | $17.74 | $16.08 |
| Dec 27, 1994 | $17.63 | — |
| Dec 23, 1994 | $17.41 | $15.55 |
| Dec 22, 1994 | $17.15 | $15.60 |
| Dec 21, 1994 | $17.07 | $15.65 |
| Dec 20, 1994 | $16.98 | $15.73 |
| Dec 19, 1994 | $16.91 | $15.58 |
| Dec 16, 1994 | $16.84 | $15.48 |
| Dec 15, 1994 | $16.60 | $15.60 |
| Dec 14, 1994 | $16.96 | $15.83 |
| Dec 13, 1994 | $16.98 | $15.73 |
| Dec 12, 1994 | $16.92 | $15.98 |
| Dec 9, 1994 | $17.12 | $16.08 |
| Dec 8, 1994 | $17.14 | $16.13 |
| Dec 7, 1994 | $16.86 | $15.83 |
| Dec 6, 1994 | $16.93 | $16.05 |
| Dec 5, 1994 | $16.88 | $15.93 |
| Dec 2, 1994 | $17.00 | $16.35 |
| Dec 1, 1994 | $17.77 | $16.98 |
The month's range ran from $16.60 on Dec 15, 1994 to $17.77 on Dec 1, 1994; the last price was $17.77 on Dec 30, 1994. The largest one-day move was −$0.77 on Dec 2, 1994 (−4.3%).
Brent averaged $15.93, on matched dates $1.20 below WTI on average across 20 dates.
Among the 40 December averages EIA has published, 1994's ranks 5th lowest. Within 1994 it ranks 5th lowest of the 12 monthly averages. In October 2026 dollars (CPI-U), the average equals $38.69 and the high of $17.77 equals $40.06.
December 1994 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $17.16 | $15.93 |
| Change vs November 1994 | −$0.91 | −$1.26 |
| Change vs December 1993 | +$2.64 | +$2.20 |
| Highest daily price | $17.77 Dec 1, 1994 | $16.98 Dec 1, 1994 |
| Lowest daily price | $16.60 Dec 15, 1994 | $15.48 Dec 16, 1994 |
| Published daily observations | 21 | 20 |
| Average in October 2026 dollars (CPI-U) | $38.69 | $35.92 |
Monthly averages are EIA's published figures. Real figures use CPI-U for December 1994.
December in other years
| Year | WTI average | vs December 1994 | Real |
|---|---|---|---|
| 2025 | $57.97 | +237.8% | $60.38 |
| 2024 | $70.12 | +308.6% | $74.99 |
| 2023 | $71.90 | +319.0% | $79.11 |
| 2022 | $76.44 | +345.5% | $86.93 |
| 2021 | $71.71 | +317.9% | $86.81 |
| 2020 | $47.02 | +174.0% | $60.93 |
| 2019 | $59.88 | +249.0% | $78.65 |
| 2018 | $49.52 | +188.6% | $66.53 |
| 2017 | $57.88 | +237.3% | $79.24 |
| 2016 | $51.97 | +202.9% | $72.65 |
| 2015 | $37.19 | +116.7% | $53.07 |
| 2014 | $59.29 | +245.5% | $85.22 |
| 2013 | $97.63 | +468.9% | $141.39 |
| 2012 | $87.86 | +412.0% | $129.15 |
| 2011 | $98.56 | +474.4% | $147.40 |
| 2010 | $89.15 | +419.5% | $137.28 |
| 2009 | $74.47 | +334.0% | $116.39 |
| 2008 | $41.12 | +139.6% | $66.02 |
| 2007 | $91.69 | +434.3% | $147.34 |
| 2006 | $61.96 | +261.1% | $103.63 |
| 2005 | $59.41 | +246.2% | $101.89 |
| 2004 | $43.15 | +151.5% | $76.53 |
| 2003 | $32.13 | +87.2% | $58.84 |
| 2002 | $29.46 | +71.7% | $54.96 |
| 2001 | $19.39 | +13.0% | $37.04 |
| 2000 | $28.44 | +65.7% | $55.17 |
| 1999 | $26.10 | +52.1% | $52.34 |
| 1998 | $11.35 | −33.9% | $23.37 |
| 1997 | $18.33 | +6.8% | $38.35 |
| 1996 | $25.23 | +47.0% | $53.69 |
| 1995 | $19.03 | +10.9% | $41.84 |
| 1994 | $17.16 | — | $38.69 |
| 1993 | $14.52 | −15.4% | $33.61 |
| 1992 | $19.41 | +13.1% | $46.17 |
| 1991 | $19.50 | +13.6% | $47.73 |
| 1990 | $27.28 | +59.0% | $68.81 |
| 1989 | $21.10 | +23.0% | $56.47 |
| 1988 | $16.38 | −4.5% | $45.88 |
| 1987 | $17.28 | +0.7% | $50.54 |
| 1986 | $16.11 | −6.1% | $49.21 |
“—” in the real column means BLS has published no CPI-U for that month. The comparison column shows how far that year's average was from December 1994.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Dec 1, 1994 – Dec 30, 1994 | Dec 30, 1994 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Dec 1, 1994 – Dec 30, 1994 | Dec 30, 1994 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | October 2026 |
Last updated: Nov 10, 2026, 7:01 PM CST. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:1994 daily prices (CSV)