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     • 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.
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     Crude oil prices increased in 2021 as global crude oil demand ...

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   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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   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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   Why did oil prices jump last year?

   • 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, the U.S. Energy Information Administration (EIA) said on Tuesday.

   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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   Will crude oil production decrease in 2021?

   • According to our December 2021 Short-Term Energy Outlook (STEO) estimates, U.S. crude oil production in 2021 decreased by 0.1 million barrels per day (b/d) from 2020 and by 1.1 million b/d from 2019.

   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 is global oil demand downgraded in 2021?

   • However, demand growth abruptly reversed course in July and the outlook for the remainder of 2021 has been downgraded due to the worsening progression of the pandemic and revisions to historical data. Global oil demand is now seen rising 5.3 mb/d on average, to 96.2 mb/d in 2021, and by further 3.2 mb/d in 2022.

   Oil Market Report - August 2021 – Analysis - IEA

   www.iea.org/reports/oil-market-report-august-2021

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3. 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 ...

   • Brent

     Crude oil prices increased in 2021 as global crude oil...

   • WTI (West Texas Intermediate)

     Crude oil prices increased in first-half 2022 and declined...

4. 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.

5. Videos

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     Crude Oil Prices 1946 to 2021 - 70 Year Historical Chart || Global Data Stats 101

     May 28, 2021

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     investopedia.com

     What Is Crude Oil, and Why Is It Important to Investors?

     Dec 31, 2008

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     globalnews.ca

     How oil prices have recovered, 1 year after WTI dropping below zero

     Apr 21, 2021

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6. 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	$78.79	$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

7. www.eia.gov › energyexplained › oil-and-petroleumOil prices and outlook - U.S. Energy Information ...

   www.eia.gov › energyexplained › oil-and-petroleum

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   Aug 16, 2023 · Factors that affect oil prices such as hurricanes and extreme weather, political events, and OPEC oil production targets and spare crude oil production capacity.

8. www.iea.org › reports › oil-market-report-august-2021Oil Market Report - August 2021 – Analysis - IEA

   www.iea.org › reports › oil-market-report-august-2021

   • Cached

   Aug 12, 2021 · The 2Q21 crude price rally lost steam in July on fears that new Covid-19 Delta cases and weaker economic indicators could slow the oil demand recovery just as more supply hit the market. Despite big swings, North Sea Dated still rose $2.03/bbl to $74.99/bbl but fell to $70.73/bbl in early August.

9. www.forbes.com › sites › jonathanponcianoOil Prices Surge To Three-Year Highs After Hurricanes And ...

   www.forbes.com › sites › jonathanponciano

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   Sep 27, 2021 · Key Facts. The price of U.K. oil benchmark Brent Crude and U.S. West Texas Intermediate jumped about 2% apiece Monday morning to $79.56 and $75.35 per barrel, respectively—marking each of...

10. www.iea.org › data-and-statistics › chartsAverage key crude oil spot prices, January 1991-June 2021

    www.iea.org › data-and-statistics › charts

    • Cached

    Sources. Average key crude oil spot prices, January 1991-June 2021 - Chart and data by the International Energy Agency.