In September 2026, the price of Venezuelan Merey crude oil reached a monthly average of 93.75 dollars per barrel, marking its highest trading value in over a decade and its peak level for the year 2026, driven by rising global geopolitical tensions and an overall increase in energy costs according to data from the Organization of the Petroleum Exporting Countries (OPEC).
Venezuelan Merey Crude Prices Recover in September
- The price of Venezuelan Merey crude climbed by 6.93 dollars in September, representing a 22% monthly recovery compared to August figures, as reported by Noticias24hrs.com.ve.
- For the cumulative January through September 2026 window, the average price of Venezuelan crude settled at 73.90 dollars per barrel, reflecting a 26% year-over-year increase relative to the same period in 2025.
Venezuelan Oil Basket Hits Ten Year High
The upward price movement for Venezuelan heavy crude reflects broader shifts across international energy markets during the third quarter of 2026. As reported by La iguana TV, the increase to 93.75 dollars per barrel in September places the national oil basket at its highest point in more than ten years. This monthly print exceeded the August baseline by 6.93 dollars, establishing a trajectory that aligns with broader commodities adjustments tracked by global monitoring agencies.
During September, standard global benchmarks pushed past the 100-dollar-per-barrel threshold. Specifically, West Texas Intermediate traded near 97.73 dollars per barrel, while the European Brent benchmark reached 108.82 dollars per barrel, creating a high-price environment that directly lifted the realized value of Venezuelan production.
Comparative Price Metrics Across International Grades
| Crude Oil Benchmark | Period | Price per Barrel (USD) | Key Metric / Change |
|---|---|---|---|
| Venezuelan Merey (YTD Average) | Jan–Sep 2026 | $73.90 | +26% YoY vs. 2025 |
| Brent Crude | September/October 2026 | $108.82 | European benchmark reference |
Year-to-Date Accumulation and Market Dynamics
The broader financial ledger for the national oil sector demonstrates sustained recovery across the first three quarters of the year. According to Últimas Noticias, the cumulative average price for Merey crude from January through September 2026 reached 73.90 dollars per barrel. This average marks a 26% expansion when compared against the corresponding nine-month span in 2025.
