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The current month is updated on an hourly basis with today's latest value. The current price of WTI crude oil as of July 25, 2024 is $76.40 per barrel. Interactive charts of West Texas Intermediate (WTI or NYMEX) crude oil prices per barrel back to 1946.
- 10 Year Daily Chart
WTI Crude Oil Prices - 10 Year Daily Chart. Interactive...
- Crude Oil vs Gasoline Prices
This interactive chart compares the monthly price...
- Saudi Arabia Crude Oil Production
Interactive chart showing the monthly level of Saudi Arabia...
- Crude Oil Prices Today - Live Chart
The current price of WTI crude oil as of July 25, 2024 is...
- Oil Prices vs Natural Gas
This interactive chart compares the price performance of...
- 10 Year Daily Chart
Jan 7, 2020 · The price of West Texas Intermediate (WTI) crude oil, the U.S. benchmark, averaged $57/b in 2019, $7/b lower than in 2018. Compared with recent years, both crude oil prices traded within relatively narrow price ranges throughout the year.
Oct 26, 2022 · This dashboard presents oil price dynamics and the breakeven oil prices—minimum oil price to cover general government expenditures—over the past decade as well as a snapshot of the marginal cost of oil production by country in 2014.
- Alex Kulikov
- Figure 1. Countries Canada Imports Crude Oil from
- Figure 2. Origin and Cost of Crude Oil Imported to Eastern Provinces
- Figure 3. Weekly Refinery Crude Utilization by Region
Imports by region
In 2020, all of the eastern Canadian importing provinces imported less oil compared to 2019. The primary reason for the drop in imports during 2020 was related to COVID-19, as refineries processed less crude oil due to lower demand for refined petroleum products (e.g. gasoline and jet fuel) during the COVID-19 pandemic. Additionally, Newfoundland and Labrador’s crude oil imports dropped by more than 70% because of the idling of the Come by Chance Refineryin March 2020. The Come by Chance Refi...
Cost of imported oil
Generally, imported oil is more costly than Canadian crude oil transported by pipeline. The total cost of all imported crude oil was $11.5 billion in 2020, a drop of 40% from 2019 when the cost was $18.9 billionFootnote 2. This is due to both the 20% decline in imported volumes, and the decline in global crude prices due to OPEC+ actions and COVID-19market impacts. Newfoundland and Labrador had the highest import cost per barrel of crude oil in 2020 and throughout recent years. Newfoundland a...
Recovery of refinery utilizations
When the COVID-19 pandemic hit, refineries in all regions of Canada were materially impacted. Western Canadian refineries were impacted less than refineries in Ontario, Quebec, and Atlantic Canada. These western refineries, and to a lesser extent those in Ontario, made substantial recoveries by the end of 2020. Refineries in the main importing regions of Quebec and Atlantic Canada have been slower to recover from the pandemic impacts compared to refineries in the rest of Canada. As a result,...
Cost of imported oil
In 2020, Canada reduced its reliance on imports, especially non-U.S. imports. Overall, Canada imported less crude oil in 2020 than 2019 largely due to the impacts of the COVID-19 pandemic in reducing refinery demand. The cost of the total oil imported also declined substantially, as not only were import volumes lower, but global prices dropped early in the pandemic. Newfoundland and Labrador has been impacted most with the idling of the Come by Chance refinery, leaving the province without a...
Nov 12, 2020 · We now expect demand to decrease by 8.8 mb/d in 2020 (versus 8.4 mb/d in last month’s Report) and to rise by 5.8 mb/d in 2021 (versus 5.5 mb/d last month). Vaccines are unlikely to significantly boost demand until well into next year. Global oil supply rose by 0.2 mb/d m-o-m to 91.2 mb/d in October.
Mar 9, 2021 · Crude oil prices reached historic lows in 2020, because of a combination of geopolitical issues and the collapse of demand during the pandemic. The monthly average crude oil and crude bitumen price index was one-third (-3 3.7%) lower in 2020 compared with 2019.
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May 17, 2024 · How Crude Oil Prices are Determined. The price of oil is set in the global marketplace. Oil is traded globally and can move from one market to another easily by ship, pipeline, or barge. As a result, the supply/demand balance determines the price for crude oil around the world.
