Market overview

Shell realised prices									Year average
	2017		2016		2015		2014		2013
	SUBS	JV&A	SUBS	JV&A	SUBS	JV&A	SUBS	JV&A	SUBS	JV&A
Crude oil and natural gas liquids ($/b)
Europe	50.52	46.88	38.62	40.75	49.77	45.97	94.57	89.68	105.23	99.27
Asia	49.08	53.44	38.11	43.95	47.73	52.21	89.47	96.85	96.46	70.34
Oceania	45.64	–	36.64	33.76	43.39	50.01	82.26	88.07	90.50	91.91
Africa	53.39	–	42.73	–	51.80	–	100.55	–	110.14	–
North America – USA	47.23	–	37.50	–	44.99	–	87.90	–	98.10	–
North America – Canada	36.00	–	25.76	–	25.45	–	59.19	–	63.14	–
South America	48.10	–	38.58	–	42.38	–	88.68	–	97.17	94.01
Total	49.00	53.23	38.60	43.58	47.52	51.82	91.09	95.87	99.83	72.69
Natural gas ($/thousand scf)
Europe	5.48	4.77	4.75	4.19	7.10	6.46	8.58	8.26	10.29	9.17
Asia	2.84	5.45	2.32	4.63	3.02	7.06	4.57	11.50	4.51	10.73
Oceania	6.21	3.11	5.31	4.33	6.80	6.73	10.49	11.01	11.55	9.45
Africa	2.44	–	2.33	–	2.10	–	2.71	–	2.84	–
North America – USA	3.00	–	2.21	–	2.39	–	4.52	–	3.92	–
North America – Canada	1.85	–	1.71	–	2.29	–	4.39	–	3.26	–
South America	2.29	–	1.83	–	2.46	–	2.85	–	2.91	0.42
Total	3.83	5.11	3.16	4.41	4.07	6.77	5.68	9.72	5.85	9.72
Other ($/b)
North America – Synthetic crude oil	45.90	–	37.61	–	40.87	–	81.83	–	87.24	–
North America – Bitumen	34.46	–	25.74	–	30.25	–	70.19	–	67.40	–

MMBtu

million British thermal units