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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.
World energy prices database, which covers 147 countries in the world with weekly, monthly, quarterly and yearly data for end-use prices. Regular frequency of update: yearly for full database (April). Partial transport data updated monthly.
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.
- 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.
- Mapped: Global Energy Prices, by Country in 2022
- Global Energy Prices: Gasoline
- Global Energy Prices: Electricity
- Global Energy Prices: Natural Gas
- Increasing Competition
For some countries, energy prices hit historic levels in 2022. Gasoline, electricity, and natural gas prices skyrocketed as Russia’s invasion of Ukraine ruptured global energy supply chains. Households and businesses are facing higher energy bills amid extreme price volatility. Uncertainty surrounding the war looms large, and winter heating costs a...
Which countries and regions pay the most for a gallon of gas? Source: GlobalPetrolPrices.com. As of October 31, 2022. Represents average household prices. At an average $11.10per gallon, households in Hong Kong pay the highest for gasoline in the world—more than double the global average. Both high gas taxes and steep land costs are primary factors...
Extreme volatility is also being seen in electricity prices. The majority of the highest household electricity prices are in Europe, where Denmark, Germany, and Belgium’s prices are about doublethat of France and Greece. For perspective, electricity prices in many countries in Europe are more than twice or three times the global average of $0.14 pe...
Eight of the 10 highest natural gas prices globally fall in Europe, with the Netherlands at the top. Overall, European natural gas prices have spiked sixfoldin a year since the invasion of Ukraine. Source: GlobalPetrolPrices.com. As of March 31, 2022. Represents average household prices. The good news is that the fall season has been relatively war...
By December, all seaborne crude oil shipments from Russia to Europe will come to a halt, likely pushing up gasoline prices into the winter and 2023. Concerningly, analysis from the EIA shows that European natural gas storage capacities could sink to 20%by February if Russia completely shuts off its supply and demand is not reduced. As Europe seeks ...
- Dorothy Neufeld
Jun 15, 2022 · World oil demand is forecast to reach 101.6 mb/d in 2023, surpassing pre-pandemic levels. While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 mb/d in 2022 to 2.2 mb/d in 2023.
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Monthly Oil Market Report 2022. 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 ...
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