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   Will oil prices rise in 2021?

   • It will take years for oil demand to recover to January 2020 levels. Prices, however, may firm up sooner because much production is now shut, and it takes time to bring that production back. We could see oil prices above $30 per barrel by the year’s end and approaching $50 per barrel by the end of 2021.

   How the COVID-19 Pandemic Plunged Global Oil Prices

   global.unc.edu/news-story/how-the-covid-19-pandemic-plunged-global-oil-prices/

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   Do gasoline prices follow crude oil prices?

   • Gasoline prices generally follow crude oil prices. Gasoline prices tend to increase when the available gasoline supply decreases relative to real or expected gasoline demand or consumption. Gasoline prices can change rapidly if something disrupts crude oil supplies, refinery operations, or gasoline pipeline deliveries.

   Gasoline price fluctuations - U.S. Energy Information Administration (EIA)

   www.eia.gov/energyexplained/gasoline/price-fluctuations.php

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   What factors affect crude oil prices?

   • Many factors affect crude oil prices. In the past several years, higher U.S. oil production has helped to slow the rise of oil and gasoline prices. You can learn about the seven major factors that influence crude oil prices in What Drives Crude Oil Prices? Federal, state, and local government taxes also contribute to the retail price of gasoline.

   Gasoline explained Factors affecting gasoline prices - U.S. Energy

   www.eia.gov/energyexplained/gasoline/factors-affecting-gasoline-prices.php

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   Why do gasoline prices fluctuate?

   • Even when crude oil prices are stable, gasoline prices fluctuate because of seasonal changes in demand and in gasoline specifications. The spot price for Brent crude oil (the benchmark for world crude oil prices) reached record highs in 2008 as a result of high worldwide oil demand relative to supply.

   Gasoline price fluctuations - U.S. Energy Information Administration (EIA)

   www.eia.gov/energyexplained/gasoline/price-fluctuations.php

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2. www.eia.gov › energyexplained › gasolineGasoline explained Gasoline price fluctuations - U.S. Energy ...

   www.eia.gov › energyexplained › gasoline

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   Sep 6, 2024 · Gasoline prices tend to increase when the available gasoline supply decreases relative to real or expected gasoline demand or consumption. Gasoline prices can change rapidly if something disrupts crude oil supplies, refinery operations, or gasoline pipeline deliveries.

   • FAQs

     Official Energy Statistics from the U.S. Government. Coal....

   • Refiner Acquisition Cost of Crude Oil

     Data through 2023 are final. U.S. is defined as the 50...

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     Coal products Interactive data tools. Coal data browser;...

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3. theconversation.com › under-both-trump-and-bidenUnder both Trump and Biden-Harris, US oil and gas production ...

   theconversation.com › under-both-trump-and-biden

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   Sep 9, 2024 · Under both Trump and Biden-Harris, US oil and gas production surged to record highs, despite very different energy goals. Both administrations supported banning some offshore drilling, but...

4. Videos

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     cleantechnica.com

     Crude Oil Prices Will Increase Through 2024 As Demand Rises Above Supply — EIA Forecast - CleanTechnica

     Sep 30, 2023

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     2:18

     youtube.com

     US oil prices: Markets rally but still far from 2020 peak

     May 20, 2020

     30.1K Views

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     24:41

     youtube.com

     Why did US oil prices hit negative territory? I Inside Story

     Apr 21, 2020

     121.8K Views

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5. www.eia.gov › energyexplained › gasolineFactors affecting gasoline prices - U.S. Energy Information ...

   www.eia.gov › energyexplained › gasoline

   • Cached

   Sep 5, 2024 · Many factors affect crude oil prices. In the past several years, higher U.S. oil production has helped to slow the rise of oil and gasoline prices. You can learn about the seven major factors that influence crude oil prices in What Drives Crude Oil Prices?

6. oilprice.com › Energy › Crude-OilThe Oil Industry's Evolution From Bush to Biden

   oilprice.com › Energy › Crude-Oil

   • Cached

   Sep 6, 2024 · The price of oil would recover sharply in 2021, and then in 2022, it would surge to above $100 for the first time since 2014. Several factors drove oil prices higher. One, some U.S....

7. oilprice.com › Energy › Energy-GeneralHow Falling Oil Prices Could Save The Economy | OilPrice.com

   oilprice.com › Energy › Energy-General

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   Sep 12, 2024 · Brent Crude prices crashed earlier this week to below $70 per barrel amid concerns about global demand and the second consecutive downward revision to oil demand growth estimates by OPEC.

8. global.unc.edu › news-story › how-the-covid-19How the COVID-19 Pandemic Plunged Global Oil Prices

   global.unc.edu › news-story › how-the-covid-19

   • Cached

   Sep 17, 2024 · Why did oil prices suddenly decrease as the COVID-19 pandemic spread? A. There is an unprecedented amount of what we call demand destruction, which is when demand for oil products suddenly disappears. Industrial users across the globe have shut down.

9. www.aogr.com › magazine › cover-storyStrengthening Fundamentals Frame Bullish Oil, Gas Outlook

   www.aogr.com › magazine › cover-story

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   2 days ago · If oil prices do surge in 2021 as we expect, U.S. production could get close to 13 MMbbl/d again by the end of 2023, but that assumes U.S. well productivities do not deteriorate as drilling activity ramps up in noncore areas.