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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, the...

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

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   Crude Oil Prices - 70 Year Historical Chart. 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.

   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

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 · 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.

4. www.iea.org › reports › oil-market-report-october-2021Oil Market Report - October 2021 – Analysis - IEA

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

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   Oct 14, 2021 · Oil prices are scaling multi-year highs as a shortage of natural gas, LNG and coal boosts demand for oil, which could keep the market in deficit through at least the end of the year. Brent crude futures rose by more than $10/bbl to surpass $83/bbl, while WTI traded above $80/bbl at the time of writing.

5. www.iea.org › reports › oil-market-report-may-2021Oil Market Report - May 2021 – Analysis - IEA

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

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   May 12, 2021 · Crude prices rose in April and May boosted by strong economic trends, supply-side concerns, and despite surging Covid cases in some regions. Crude futures rallied by some $7/bbl from a 5 April trough, to $68.81/bbl for ICE Brent and $65.31/bbl for NYMEX WTI on 10 May.

6. ourworldindata.org › grapher › crude-oil-pricesCrude oil prices - Our World in Data

   ourworldindata.org › grapher › crude-oil-prices

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   Jun 20, 2024 · Global crude oil prices, measured in US dollars per cubic meter. This data is not adjusted for inflation.

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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   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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   What determines the price of oil around the world?

   • 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.

   Oil Pricing - natural-resources.canada.ca

   natural-resources.canada.ca/our-natural-resources/energy-sources-distribution/fossil-fuels/crude-oil/oil-pricing/18087

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8. natural-resources.canada.ca › oil-pricing › 18087Oil Pricing - natural-resources.canada.ca

   natural-resources.canada.ca › oil-pricing › 18087

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   May 17, 2024 · 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.