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May 24, 2024 · Despite deep production cuts Brent crude prices are trading near their lowest this year at $81 a barrel, down from a peak of $91 in April, pressured by elevated stocks and concerns over....
Global oil prices and inventories The spot price of Brent crude oil averaged $90 per barrel (b) in April, up $5/b from March and the fourth consecutive monthly increase. However, daily crude oil spot prices have since fallen, and the Brent spot price settled at $84/b on May 2. Prices increased in April due to falling global oil inventories.
Access the latest crude oil prices and global market dynamics. In-depth analysis, news, and real-time updates on crude indexes. Your go-to source for oil insights.
May 8, 2024 · Q. 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.
May 15, 2024 · Highlights. Global oil demand is set to rise by 1.1 mb/d in 2024, 140 kb/d less than projected in last month’s Report as weak deliveries, notably in Europe, shifted first-quarter OECD demand into contraction.
May 17, 2024 · Oil Pricing. How Crude Oil Prices are Determined. The price of oil is set in the global marketplace. Oil is traded globally and can move from one market to another easily by ship, pipeline, or barge. As a result, the supply/demand balance determines the price for crude oil around the world.
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May 15, 2024 · Oil Stocks of IEA Countries. Measured in days of net imports, updated each month with the release of the Oil Market Report. Last updated 15 May 2024. Cite Share.
