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Crude Oil - data, forecasts, historical chart - was last updated on October 15 of 2024. Crude Oil decreased 0.70 USD/BBL or 0.97% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.
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Uranium Price - Chart - Historical Data - News. Summary...
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The WTI price followed a similar path as the Brent crude oil price in 2022, averaging $5/b less than the Brent crude oil price, compared with $3/b less in 2021. The Brent-WTI crude oil spread (the difference between the two prices) increased in 2022 relative to 2021 because European countries needed to replace crude oil supplies they were importing from Russia with crude oil from another source.
- World oil demand growth is forecast to slow to 1.9 mb/d in 2Q22 from 4.4 mb/d in 1Q22 and is now projected to ease to 490 kb/d on average in the second half of the year on a more tempered economic expansion and higher prices.
- Russia shut in nearly 1 mb/d in April, driving down world oil supply by 710 kb/d to 98.1 mb/d. Over time, steadily rising volumes from Middle East OPEC+ and the US along with a slowdown in demand growth is expected to fend off an acute supply deficit amid a worsening Russian supply disruption.
- Global refinery margins have surged to extraordinarily high levels due to depleted product inventories and constrained refinery activity. Throughputs in April fell 1.4 mb/d to 78 mb/d, the lowest since May 2021, largely driven by China.
- Global observed oil inventories declined by a further 45 mb during March and are now a total 1.2 billion barrels lower since June 2020. In the OECD, the release of 24.7 mb of government stocks during March halted the precipitous decline in industry inventories.
Dec 31, 2019 · In depth view into Crude Oil Price including historical data from 1861 to 2022, charts and stats.
DateValueDecember 31, 202382.64December 31, 2022101.32December 31, 202170.91December 31, 202041.84- 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.
The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance.
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JOHN KEMP REUTERS. 21 Feb 2022. Oil prices have rebounded strongly after the coronavirus recession. In real terms, prices are highest since 2014. Real oil prices are fairly high but not extremely so in historic terms. Price in 60th to 80th percentile depending on time horizon used for evaluation. Oil prices exhibit strongly cyclical behaviour.
