What was the price of a barrel of oil in 2015?

Crude Oil Prices – Historical Annual Data
Year Average Closing Price Year Open
2016 $43.29 $36.81
2015 $48.66 $52.72
2014 $93.17 $95.14

What happen to oil price in 2015?

The prices of crude futures declined in late September 2015 when it became clear that oil stockpiles were growing amid increased production. Total oil production by the end of 2015 was expected to increase to more than 9.35 million barrels per day—higher than previous forecasts of 9.3 million barrels per day.

What is the lowest oil price ever?

On 23 December 2008, WTI crude oil spot price fell to US$30.28 a barrel, the lowest since the financial crisis of 2007–2008 began.

What was the average price of oil per barrel?

Crude Oil Prices – 70 Year Historical Chart

Crude Oil Prices – Historical Annual Data
Year Average Closing Price Year High
2019 $56.99 $66.24
2018 $65.23 $77.41
2017 $50.80 $60.46

What was the price of oil in 2020?

WTI Crude Oil Prices – 10 Year Daily Chart

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Crude Oil Prices – Historical Annual Data
Year Average Closing Price Year High
2020 $39.68 $63.27
2019 $56.99 $66.24
2018 $65.23 $77.41

What is the highest price of oil in history?

The absolute peak occurred in June 2008 with the highest inflation-adjusted monthly average crude oil price of $156.85 / barrel. From there we see one of the sharpest drops in history.

What was the highest price for a barrel of oil?

Price of West Texas Intermediate crude oil

Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollar per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008.

What was the price of oil in 2021?

Also in the July STEO, we forecast the Brent crude oil price will fall from an average of $69/b in 2021 (up from $65/b in the June forecast) to $67/b in 2022 (up from $60/b in the June forecast). We also expect West Texas Intermediate (WTI) crude oil prices will likely follow a similar path.

How much is a barrel of oil in 2021?

(13 May 2021) Brent crude oil prices will average $62.26 per barrel in 2021 and $60.74 per barrel in 2022 according to the forecast in the most recent Short-Term Energy Outlook from the US Energy Information Administration (EIA).

How much was a barrel of oil may 2020?

Historical Data

Date Value
June 30, 2020 39.46
May 31, 2020 30.38
April 30, 2020 21.04
March 31, 2020 32.20

What was the lowest price of oil in 2020?

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel.

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Why did oil go down?

Last year, as the coronavirus pandemic spread around the world, global oil demand dropped remarkably fast. … So oil producers slashed their production — including a historic cut in output from the group of countries collectively known as OPEC+, which includes major producers Saudi Arabia and Russia.

Is the oil market recovering?

Crude oil prices have recovered from their COVID-19 slump, driven by firming demand and continued production restraint by OPEC and its partners (OPEC+). As demand gradually returns to pre-pandemic levels and OPEC+ raises production, crude oil prices are expected to average $56/bbl in 2021 and $60/bbl in 2022.

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