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Mar 17, 2021 · Oil 2021, the IEA’s latest medium-term outlook, explains why. Rapid changes in behaviour from the pandemic and a stronger drive by governments towards a low-carbon future have caused a dramatic downward shift in expectations for oil demand over the next six years.
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$77.51$71.65$87.012023$77.64$80.26$93.842022$94.53$76.08$123.702021$68.17$47.62$84.65February 2021. This report was prepared by the U.S. Energy Information Administration (EIA), the statistical and analytical agency within the U.S. Department of Energy. By law, EIA's data, analyses, and forecasts are independent of approval by any other officer or employee of the United States Government.
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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.
According to our December 2021 Short-Term Energy Outlook (STEO) estimates, U.S. crude oil production in 2021 decreased by 0.1 million barrels per day (b/d) from 2020 and by 1.1 million b/d from 2019.
Factors that affect oil prices such as hurricanes and extreme weather, political events, and OPEC oil production targets and spare crude oil production capacity.
People also ask
What is the outlook for oil prices in 2021?
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Will the oil market return to normal in 2021?
Jan 13, 2021 · Numerous uncertainties affect oil and petroleum price forecasts for 2021. Current forecasts indicate moderate and stable oil prices with commercial inventories, additional supply, and high OPEC spare
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