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  1. crsreports.congress.gov › product › pdfOil Markets and Prices in 2021: Demand, Supply, and Policy ...

    Jan 13, 2021 · Petroleum inventories held in commercial storage increased quickly as product prices declined, refining profitability decreased, and crude oil demand collapsed. Oil prices fell rapidly and West Texas Intermediate (WTI) futures settled negative for the first time.

  2. www.eia.gov › todayinenergy › detailCrude oil prices increased in 2021 as global crude oil demand ...

    Jan 4, 2022 · 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.

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  4. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Crude oil imports declined in 2021, while ...

    Mar 30, 2022 · The total cost of all imported crude oil was $14.7 billion in 2021, an increase of 30% from 2020 when the cost was $11.3 billion. This increase is primarily because global crude oil prices recovered in 2021, following historic lows seen in 2020 at the onset of the COVID-19 pandemic.

  5. atlantic.ctvnews.ca › n-l-expects-70-millionN.L. expects $70-million windfall from surging oil prices ...

    Mar 15, 2022 · Newfoundland and Labrador's finance minister says her department expects about $70 million more oil revenue than forecast this fiscal year, and some of the cash will be used to help vulnerable...

  6. energynl.ca › 2021 › 07Will Newfoundland offshore oil industry reboot with rising ...

    Jul 9, 2021 · Plans for a refit were delayed while a task force of government and industry assessed how best to spend the $320 million provided by Ottawa last fall to aid the offshore oil industry. Now there are signs of a turnaround. This week the value of Brent Crude surged to a six-year high of $76 a barrel.

  7. www.ctvnews.ca › business › wildly-swinging-oilHow Newfoundland can gain from shifting gas prices | CTV News

    Feb 21, 2023 · As the COVID-19 pandemic sent oil prices plummeting to historic lows, emails obtained by The Canadian Press show Newfoundland and Labrador was quietly bracing for two of its offshore...

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  9. www.forbes.com › sites › daneberhartWhy Are Oil Prices So High When The U.S. Remains One ... - Forbes

    Nov 13, 2021 · Crude oil prices have climbed more than 60% this year amid strong demand and snarled supply chains, prompting President Joe Biden to pressure Saudi Arabia and other exporters to ramp up oil ...