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Jan 4, 2022 · Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply. The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in ...
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, the...
Oct 14, 2021 · Crude oil prices hit a seven-year high in early October boosted by energy supply concerns and continued oil stock draws. North Sea Dated prices rose by $3.65/bbl on average in September to $74.40/bbl and WTI at Cushing $3.84/bbl to $71.56/bbl. Strong backwardation restrained crude price differentials to marker crudes over the month.
Dec 14, 2021 · 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. Global oil production is poised to outpace demand from December, led by growth in the US and OPEC+ countries.
Jan 15, 2021 · Energy. Oil Prices. Why Oil Will Keep Rising In 2021. By David Messler - Jan 14, 2021, 7:00 PM CST. We have seen strong moves higher in the key crude oil benchmarks-WTI, and Brent, in the...
Aug 12, 2021 · Crude oil held in short term floating storage increased by 4.5 mb to 103.6 mb in July. The 2Q21 crude price rally lost steam in July on fears that new Covid-19 Delta cases and weaker economic indicators could slow the oil demand recovery just as more supply hit the market.
Jan 5, 2021 · In the first half of 2020, responses to the COVID-19 pandemic led to steep declines in global petroleum demand and to volatile crude oil markets. The second half of the year was characterized by relatively stable prices as demand began to recover.
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