Oil Prices in November 1994: WTI & Brent Daily Prices and Monthly Average
WTI averaged $18.07 per barrel in November 1994, up $0.35 (2.0%) from October 1994. A year earlier, in November 1993, it averaged $16.61, so the price was higher by $1.46 (8.8%) year over year.
Daily spot prices, November 1994
Chart data table (22 rows; WTI on 20, Brent on 22)
| Period | WTI | Brent |
|---|---|---|
| Nov 30, 1994 | $18.06 | $16.95 |
| Nov 29, 1994 | $17.97 | $17.00 |
| Nov 28, 1994 | $18.10 | $16.95 |
| Nov 25, 1994 | — | $17.00 |
| Nov 24, 1994 | — | $16.95 |
| Nov 23, 1994 | $18.05 | $16.88 |
| Nov 22, 1994 | $17.70 | $17.20 |
| Nov 21, 1994 | $17.43 | $17.25 |
| Nov 18, 1994 | $17.47 | $16.45 |
| Nov 17, 1994 | $17.63 | $16.53 |
| Nov 16, 1994 | $17.38 | $16.80 |
| Nov 15, 1994 | $17.58 | $16.98 |
| Nov 14, 1994 | $17.48 | $17.25 |
| Nov 11, 1994 | $18.07 | $17.38 |
| Nov 10, 1994 | $18.18 | $17.20 |
| Nov 9, 1994 | $18.16 | $17.55 |
| Nov 8, 1994 | $18.46 | $17.38 |
| Nov 7, 1994 | $18.38 | $17.78 |
| Nov 4, 1994 | $18.76 | $18.00 |
| Nov 3, 1994 | $18.97 | $17.75 |
| Nov 2, 1994 | $18.90 | $17.58 |
| Nov 1, 1994 | $18.66 | $17.40 |
Prices peaked at $18.97 on Nov 3, 1994, then fell to $17.38 on Nov 16, 1994 and ended at $18.06.
Brent averaged $17.19, within a dollar of WTI on average across the 20 dates when both were published.
Among the 40 November averages EIA has published, 1994's ranks 6th lowest. Within 1994 it ranks 4th highest of the 12 monthly averages. In October 2026 dollars (CPI-U), the average equals $40.74 and the high of $18.97 equals $42.77.
November 1994 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $18.07 | $17.19 |
| Change vs October 1994 | +$0.35 | +$0.70 |
| Change vs November 1993 | +$1.46 | +$1.99 |
| Highest daily price | $18.97 Nov 3, 1994 | $18.00 Nov 4, 1994 |
| Lowest daily price | $17.38 Nov 16, 1994 | $16.45 Nov 18, 1994 |
| Published daily observations | 20 | 22 |
| Average in October 2026 dollars (CPI-U) | $40.74 | $38.76 |
Monthly averages are EIA's published figures. Real figures use CPI-U for November 1994.
November in other years
| Year | WTI average | vs November 1994 | Real |
|---|---|---|---|
| 2026 (to date) | $99.85 | +452.6% | — |
| 2025 | $60.06 | +232.4% | $62.54 |
| 2024 | $69.95 | +287.1% | $74.83 |
| 2023 | $77.69 | +329.9% | $85.40 |
| 2022 | $84.37 | +366.9% | $95.65 |
| 2021 | $79.15 | +338.0% | $96.11 |
| 2020 | $40.94 | +126.6% | $53.10 |
| 2019 | $57.03 | +215.6% | $74.84 |
| 2018 | $56.96 | +215.2% | $76.28 |
| 2017 | $56.64 | +213.4% | $77.50 |
| 2016 | $45.66 | +152.7% | $63.85 |
| 2015 | $42.44 | +134.9% | $60.35 |
| 2014 | $75.79 | +319.4% | $108.32 |
| 2013 | $93.86 | +419.4% | $135.92 |
| 2012 | $86.53 | +378.9% | $126.86 |
| 2011 | $97.16 | +437.7% | $144.95 |
| 2010 | $84.25 | +366.2% | $129.96 |
| 2009 | $77.99 | +331.6% | $121.68 |
| 2008 | $57.31 | +217.2% | $91.06 |
| 2007 | $94.77 | +424.5% | $152.19 |
| 2006 | $59.08 | +227.0% | $98.96 |
| 2005 | $58.32 | +222.7% | $99.61 |
| 2004 | $48.47 | +168.2% | $85.65 |
| 2003 | $31.11 | +72.2% | $56.91 |
| 2002 | $26.35 | +45.8% | $49.05 |
| 2001 | $19.64 | +8.7% | $37.37 |
| 2000 | $34.42 | +90.5% | $66.73 |
| 1999 | $25.00 | +38.4% | $50.14 |
| 1998 | $13.00 | −28.1% | $26.75 |
| 1997 | $20.19 | +11.7% | $42.19 |
| 1996 | $23.71 | +31.2% | $50.46 |
| 1995 | $17.99 | −0.4% | $39.53 |
| 1994 | $18.07 | — | $40.74 |
| 1993 | $16.61 | −8.1% | $38.45 |
| 1992 | $20.34 | +12.6% | $48.34 |
| 1991 | $22.46 | +24.3% | $55.01 |
| 1990 | $32.33 | +78.9% | $81.55 |
| 1989 | $19.86 | +9.9% | $53.24 |
| 1988 | $14.14 | −21.7% | $39.67 |
| 1987 | $18.85 | +4.3% | $55.13 |
| 1986 | $15.22 | −15.8% | $46.53 |
“—” 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 November 1994.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Nov 1, 1994 – Nov 30, 1994 | Nov 30, 1994 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Nov 1, 1994 – Nov 30, 1994 | Nov 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)