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1. oilprice.com › Latest-Energy-News › World-NewsAverage Oil Price In 2021 Was The Highest In Past Three Years

   oilprice.com › Latest-Energy-News › World-News

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   Jan 5, 2022 · A faster increase in global oil demand than growth in supply led to oil prices jumping last year, with the average Brent Crude price at $71 per barrel—the highest of the past three years,...

2. www.eia.gov › todayinenergy › detailCrude oil prices increased in 2021 as global crude oil demand ...

   www.eia.gov › todayinenergy › detail

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   Jan 4, 2022 · Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply. The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in ...

3. www3.eia.gov › outlooks › steoShort-Term Energy Outlook

   www3.eia.gov › outlooks › steo

   • Brent crude oil spot prices averaged $71 per barrel (b) in 2021, and we forecast Brent prices will average $75/b in 2022 and $68/b in 2023. • We estimate global liquid fuels inventories fell by an average of 1.4 million barrels per day (b/d) in 2021 compared with inventory growth of 2.1 million b/d in 2020. Global oil

4. crsreports.congress.gov › product › pdfOil Markets and Prices in 2021: Demand, Supply, and Policy ...

   crsreports.congress.gov › product › pdf

   Jan 13, 2021 · Indicators suggest a recovering oil market with potential for higher, yet moderate, prices in the short term. However, demand, supply, and uncertainties in U.S. policy toward Iran could change 2021 market and price conditions.

5. tradingeconomics.com › commodity › crude-oilCrude Oil - Price - Chart - Historical Data - News

   tradingeconomics.com › commodity › crude-oil

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   Crude Oil increased 11.69 USD/BBL or 16.31% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2024.

6. www3.eia.gov › outlooks › steoShort-Term Energy Outlook

   www3.eia.gov › outlooks › steo

   Crude oil prices have risen over the past year as result of steady draws on global oil inventories, which averaged 1.4 million barrels per day (b/d) during the first three quarters of 2021.

7. People also ask

   What is the average price of crude oil in 2021?

   • Brent’s 2021 annual average of $71/b is the highest in the past three years. The price of West Texas Intermediate (WTI) crude oil traced a similar pattern to Brent and averaged $3/b less than Brent in 2021. Global petroleum production increased more slowly than demand, driving higher prices.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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   How much will Brent crude oil cost in 2021?

   • Brent crude oil spot prices averaged $71 per barrel (b) in 2021, and we forecast Brent prices will average $75/b in 2022 and $68/b in 2023. We estimate global liquid fuels inventories fell by an average of 1.4 million barrels per day (b/d) in 2021 compared with inventory growth of 2.1 million b/d in 2020.

   Short-Term Energy Outlook - eia.gov

   www3.eia.gov/outlooks/steo/archives/jan22.pdf

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   Why did crude oil prices increase in 2021?

   • Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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   Why are oil prices so low in 2021?

   • Rising vaccination rates, reopening economies, and the lifting of mass lockdowns resulted in oil demand outpacing supply last year, pushing oil prices from as low as $50 a barrel at the start of 2021 to an annual high of $86 at the end of October, the EIA notes. Brent Crude prices have retreated since late October, to end 2021 at $78 a barrel.

   Average Oil Price In 2021 Was The Highest In Past Three Years

   oilprice.com/Latest-Energy-News/World-News/Average-Oil-Price-In-2021-Was-The-Highest-In-Past-Three-Years.html

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8. www.macrotrends.net › 1369Crude Oil Prices - 70 Year Historical Chart | MacroTrends

   www.macrotrends.net › 1369

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   Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946. The price of oil shown is adjusted for inflation using the headline CPI and is shown by default on a logarithmic scale. The current month is updated on an hourly basis with today's latest value.

   Year	Averageclosing Price	Year Open	Year High
   2024	$78.95	$71.65	$87.01
   2023	$77.64	$80.26	$93.84
   2022	$94.53	$76.08	$123.70
   2021	$68.17	$47.62	$84.65

   See full list on macrotrends.net