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- (13 May 2021) Brent crude oil prices will average $62.26 per barrel in 2021 and $60.74 per barrel in 2022 according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA). This represents a rebound from the 2020 average of $41.69 per barrel, but it is still lower than pre-COVID levels.
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Crude Oil - data, forecasts, historical chart - was last updated on July 8 of 2024. Crude Oil increased 10.78 USD/BBL or 15.04% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
Mar 13, 2022 · (13 May 2021) Brent crude oil prices will average $62.26 per barrel in 2021 and $60.74 per barrel in 2022 according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA).
- Alex Kulikov
Brent crude futures rose to $87.5 per barrel, the highest in over two months, supported by a significant drop in US inventories reported last week and an optimistic US fuel demand forecast.
- Historical Prices for Oil (Brent) Loading.. Date. Open. Close. Daily High. Daily Low. Price change over selected period: 0% 0.
- Unit conversion for Oil (Brent) Price Today. Conversion. Oil (Brent) Price. Price. 1 Barrel ≈ 158,98 Liters. Oil (Brent) Price Per 1 Liter. 0.52 USD. 1 Barrel ≈ 0,136 Tonnes of Crude Oil.
- Energy. Name. Price % Unit. Date. Natural Gas (Henry Hub) 1.81. 0.67. USD per MMBtu. 3/8/24 05:00 PM. Ethanol. 2.16. 0.05. USD per Gallon. 3/8/24 07:16 AM. Heating Oil.
- Oil Price (Brent Crude and WTI) The price of oil is the most important value on international commodity markets since crude oil is the most important commodity.
- Us Crude Inventories Hold Below pre-pandemic Levels
- Weekly U.S Ending Stocks Excluding Spr of Crude Oil
- OPEC Retains Upbeat Forecast For 2022
- Us Crude Oil Output Remains Stagnant
The recent rally in the price of oilappears to have stalled ahead of the record high ($147.27) as the rapid rise dampens the outlook for consumption. However, recent data prints coming out of the US suggest demand will remain robust in 2022 amid a downward trend in crude inventories.
Source: US Energy Information Administration US stockpiles remain well below the levels seen at the onset of the pandemic, sitting at their lowest levels since 2018. Easing COVID-19 restrictions may continue to fuel crude consumption. The Organization of Petroleum Exporting Countries (OPEC) retains an upbeat outlook for 2022.
OPEC’s Monthly Oil Market Report (MOMR) for March revealed that “world oil demand recorded robust growthof 6.5 mb/d y-o-y in December 2021.”The update went on to say that “for the time being, world oil demand growth in 2022 remains unchanged at 4.2 mb/d, given the high uncertainty and extreme fluidity of developments in recent weeks.” Nevertheless,...
This upbeat outlook suggests OPEC will maintain a gradual approach to restoring production to pre-pandemic levels. Meanwhile, current market conditions may keep the price of oil afloat over the coming months as US output remains stagnant.
Jan 12, 2022 · In our January 2022 Short-Term Energy Outlook (STEO), we forecast that crude oil prices will fall from 2021 levels. In the fourth quarter of 2021, the price of Brent crude oil, the international pricing benchmark, averaged $79 per barrel (b).
Jul 13, 2022 · Benchmark crude oil futures plunged by more than $20/bbl in June as a worsening economic outlook fuelled a broad market sell-off. At the time of writing, Brent was below $100/bbl while WTI traded at around $96/bbl. Price premiums for physical barrels widened on rising seasonal demand for both crude and products while supply remains constrained.
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