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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.
Table 7.4: ICE Brent, NYMEX WTI and DME Oman annual average of the 1st, 6th and 12th forward months. Table 7.5: Spot prices of petroleum products in major markets. Table 7.6: Crack spreads in major markets. Taxes on oil.
Crude Oil - data, forecasts, historical chart - was last updated on July 5 of 2024. Crude Oil increased 12.50 USD/BBL or 17.44% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
Crude prices were supported by strong global oil market fundamentals amid dissipating fears about the impact of the COVID-19 Omicron variant and geopolitical risks, which raised concerns about near -term oil supply.
- World oil demand is set to contract by 110 kb/d y-o-y in 4Q22, reaching 100.8 mb/d, up by 130 kb/d compared with last month’s Report. Strong gasoil use in key consuming countries outweighs weak European and Asian petrochemical deliveries.
- World oil supply fell 190 kb/d in November to 101.7 mb/d, breaking a five-month uptrend, after Saudi Arabia and other Gulf countries curbed supply in line with lower OPEC+ output targets.
- Global refinery throughputs surged 2.2 mb/d in November to the highest since January 2020, resulting in sharply lower diesel and gasoline cracks and refinery margins.
- Russian oil exports increased by 270 kb/d to 8.1 mb/d, the highest since April as diesel exports rose by 300 kb/d to 1.1 mb/d. Crude oil loadings were largely unchanged m-o-m, even as shipments to the EU fell by 430 kb/d to 1.1 mb/d.
Oil • Brent crude oil prices averaged $101/bbl in 2022, its highest level since 2013. • Oil consumption continued to increase, rising by 2.9 million barrels per day (b/d) to 97.3 million barrels per day (b/d), a smaller increase than was seen between 2020 and 2021. Consumption remained 0.7% below 2019 levels.
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Aug 11, 2022 · The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries.
