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1. • • The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in late October before declining in the final weeks of the year. Brent’s 2021 annual average of $71/b is the highest in the past three years.
     www.eia.gov/todayinenergy/detail.php?id=50738

     Crude oil prices increased in 2021 as global crude oil demand ...

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   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

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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 did West Texas Intermediate (WTI) oil prices rise in 2021?

   • 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. The slower increase in production was mostly attributable to OPEC+ crude oil production cuts that started in late 2020.

   Crude oil prices increased in 2021 as global crude oil demand outpaced

   www.eia.gov/todayinenergy/detail.php?id=50738

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   Will global oil demand rise in 2021?

   • Global oil demand is now set to rise by 5.4 mb/d in 2021 and by 3.3 mb/d in 2022, when it returns to pre-pandemic levels at 99.5 mb/d. Global oil production is poised to outpace demand from December, led by growth in the US and OPEC+ countries.

   Oil Market Report - December 2021 – Analysis - IEA

   www.iea.org/reports/oil-market-report-december-2021

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3. markets.businessinsider.com › commodities › oilCrude Oil Price Today | WTI OIL PRICE CHART - Markets Insider

   markets.businessinsider.com › commodities › oil

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   Oil Price: Get all information on the Price of Oil including News, Charts and Realtime Quotes.

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

   ourworldindata.org › grapher › crude-oil-prices

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   Dec 12, 2023 · Global crude oil prices, measured in US dollars per cubic meter. This data is not adjusted for inflation.

5. Videos

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     Why do oil prices matter to the global economy? An expert explains

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6. www.iea.org › reports › oil-2021Oil 2021 – Analysis - IEA - International Energy Agency

   www.iea.org › reports › oil-2021

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   Mar 17, 2021 · Oil 2021 tackles these questions by analysing oil market data, trends in investment and government policies. The report provides a comprehensive outlook for global supply and demand through 2026 and explores some of the challenges and uncertainties that lie ahead.

7. www.macrotrends.net › 2566Crude Oil Prices Today - Live Chart | MacroTrends

   www.macrotrends.net › 2566

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   Live interactive chart of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel. The current price of WTI crude oil as of May 24, 2024 is 77.72 per barrel.

8. 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.

9. www.iea.org › reports › oil-market-report-december-2021Oil Market Report - December 2021 – Analysis - IEA

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

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   Dec 14, 2021 · 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. Published December 2021.