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How much did crude oil cost in 2022?
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Jan 4, 2023 · The Brent crude oil spot price averaged $100/b in 2022, and the WTI spot price averaged $95/b. In the first half of 2022, geopolitical tension with Russia, culminating with Russia’s full-scale invasion of Ukraine on February 24, contributed to crude oil price increases.
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. The current month is updated on an hourly basis with today's latest value.
YearAverageclosing PriceYear OpenYear High2024$77.77$71.65$87.012023$77.64$80.26$93.842022$94.53$76.08$123.702021$68.17$47.62$84.65Crude Oil decreased 3.01 USD/BBL or 4.20% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on September of 2024.
Sep 27, 2023 · According to the Raw materials price index, the price of crude oil and bitumen in 2022 increased by 49.0% from 2021, while the price of natural gas increased by 25.6%. Total production for crude oil rose by 2.3% in 2022, while total natural gas production increased by 7.3%.
Aug 16, 2023 · The total cost of imported crude oil was $21.5 billion in 2022, 46% higher than the $14.7 billion cost in 2021. This increase was primarily because global crude oil prices spiked in 2022, following Russia’s invasion of Ukraine, causing global supply security concerns, along with general demand recovery relative to the onset of the COVID-19 ...
Feb 11, 2022 · Benchmark crude oil prices surged by ~$15/bbl in January, breaching the $90/bbl threshold for the first time since 2014. Backwardation on the 12-month strip beginning with the April 2022 contract has hit double digits for both WTI and Brent, reflecting low crude stock levels.
Dec 14, 2022 · Benchmark crude oil futures plunged by around $8-9/bbl over the course of November and a further $5/bbl in early December, as macro-economic headwinds took centre-stage and apprehension about OPEC+ cuts and EU embargoes faded.
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