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Jun 30, 2023 · In 2022, the world produced an average of 80.75 million barrels of oil per day (including condensates). That puts annual crude oil production at around 29.5 billion barrels, with the market size exceeding $2 trillion at current prices.
Jul 9, 2020 · A closer look at the correlations reveals that scrap is even more strongly correlated with oil than is steel. Over the period from the beginning of 2000 into the first half of 2020, correlations between HRC and busheling prices in the US versus the oil benchmark amounted to 76% and 84% respectively.
- How Big Is The Market For Crude Oil?
- How Big Is The Oil Market?
- The Big Picture
This was originally posted on Elements. Sign up to the free mailing listto get beautiful visualizations on real assets and resource megatrends each week. While the global economy relies on many commodities, none come close to the massive scale of the crude oil market. Besides being the primary energy source for transportation, oil is a key raw mate...
In 2022, the world produced an average of 80.75 million barrels of oil per day (including condensates). That puts annual crude oil production at around 29.5 billion barrels, with the market size exceeding $2 trillionat current prices. That figure dwarfs the combined size of the 10 largest metal markets: Based on prices as of June 7, 2023. The combi...
While the oil market towers over metal markets, it’s important to recognize that this doesn’t downplay the importance of these commodities. Metals form a critical building block of the global economy, playing a key role in infrastructure, energy technologies, and more. Meanwhile, precious metals like goldand silver serve as important stores of valu...
Jun 30, 2020 · CRU analysts report on international oil prices as the market recovers from the coronavirus and how they impact steel costs.
Apr 30, 2023 · Oil is abundant and in great demand, making its price primarily a function of market forces. Many variables affect oil prices, including the basic economic theory of supply and demand....
Jul 12, 2023 · Steel prices, steelmaking costs and, by extension, steel mill margins experienced a volatile year in 2022. After a sharp jump of 40% in 2021, global finished steel cash costs rose even further in 2022, primarily driven by surging raw material and energy prices. Iron ore prices fell 22% for the year while hard-coking coal prices exploded by 97%.
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Jul 19, 2024 · Stocks of frozen and chilled beef and pork in cold storage were both lower in the second quarter of 2024 compared with the second quarter of 2023. Prices for pulp and paper products increased 1.7% on a monthly basis in June 2024, mainly due to higher prices for wood pulp (+2.9%). Wood pulp supply has been tight recently, contributing to higher ...
