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Crude Oil increased 5.53 USD/BBL or 7.72% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil is expected to trade at 77.76 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
Follow live oil prices with the interactive chart and read the latest crude oil news, analysis and crude oil forecasts for expert trading insights.
Crude Oil Prices Today - Live Chart. Live interactive chart of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel. The current price of WTI crude oil as of May 31, 2024 is 76.99 per barrel.
Dec 14, 2021 · On average, oil demand has been revised down by around 100 kb/d since last month’s Report for both 2021 and 2022. Global oil demand is now set to rise by 5.4 mb/d in 2021 and by 3.3 mb/d in 2022, when it returns to pre-pandemic levels at 99.5 mb/d.
- 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.
Jan 19, 2022 · World oil demand is now seen rising by 5.5 mb/d in 2021 and by 3.3 mb/d in 2022, returning to its pre-Covid levels of 99.7 mb/d. In 1Q22, demand is set for a seasonal decline, exacerbated by increased teleworking and reduced air travel.
People also ask
Will oil demand grow in 2022?
Will global oil demand rise in 2021?
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What will China's oil demand look like in 2023?
Jun 15, 2022 · Highlights. 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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