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  2. www.eia.gov › todayinenergy › detailCrude oil prices increased in 2021 as global crude oil demand ...

    Jan 4, 2022 · 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.

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

  3. oilprice.com › Latest-Energy-News › World-NewsAverage Oil Price In 2021 Was The Highest In Past Three Years

    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 U ...

  4. tradingeconomics.com › commodity › crude-oilCrude Oil - Price - Chart - Historical Data - News

    Price - Chart - Historical Data - News. WTI crude futures held near $84 per barrel on Friday and were set to advance for the fourth straight week as falling US crude inventories and signs of strong seasonal demand supported oil prices. The US oil benchmark is up about 3% so far this week. The US EIA reported that US crude stockpiles declined by ...

  5. www.bbc.co.uk › news › business-58727437Oil price rises above $80 for first time in three years - BBC

    Sep 28, 2021 · Oil prices climbed above $80 (£59) a barrel on Tuesday, hitting their highest level in three years as the pound slumped. Brent crude, the international benchmark, rose to as much as $80.69 on the ...

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

    Oct 14, 2021 · Crude oil prices hit a seven-year high in early October boosted by energy supply concerns and continued oil stock draws. North Sea Dated prices rose by $3.65/bbl on average in September to $74.40/bbl and WTI at Cushing $3.84/bbl to $71.56/bbl. Strong backwardation restrained crude price differentials to marker crudes over the month.

  8. blogs.worldbank.org › en › opendataOil market developments—rising prices amid broader surge in ...

    Nov 2, 2021 · Oil prices have also been supported by higher natural gas prices, which increased oil demand for heating and electricity generation. Crude oil prices are expected to average $74/bbl in 2022, before declining to $65/bbl in 2023 as global production recovers. Continued recovery in oil demand. Oil demand rose in 2021Q3 as lockdown measures were ...

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  10. www.iea.org › reports › oil-market-report-august-2021Oil Market Report - August 2021 – Analysis - IEA

    Aug 12, 2021 · Global oil demand is now seen rising 5.3 mb/d on average, to 96.2 mb/d in 2021, and by further 3.2 mb/d in 2022. World oil supply rose by 1.7 mb/d in July to 96.7 mb/d after Saudi Arabia ended its extra voluntary production cut and the North Sea recovered strongly after maintenance. Global output is poised to rise further in the coming months ...