What was the price of oil in 2011?

Average annual Brent crude oil price from 1976 to 2021 (in U.S. dollars per barrel)

Characteristic Average crude oil price in U.S. dollars per barrel
2012 111.63
2011 111.26
2010 79.47
2009 61.51

Why did oil prices increase in 2011?

Political turmoil in Egypt, Libya, Yemen, and Bahrain drove oil prices to $95/barrel in late February 2011. Still, the Mideast and North African crisis led to a rise in oil prices to the highest level in two years, with gasoline prices following. Though most Libyan oil went to Europe, all oil prices reacted.

How much did a barrel of oil cost in 2010?

Annual Average Domestic Crude Oil Prices

Annual Average Domestic Crude Oil Prices ($/Barrel)
2010 $71.21 $88.72
2011 $87.04 $105.14
2012 $86.46 $102.34

What was the price of crude oil in 2012?

Average crude oil prices in 2012 were at historically high levels for the second year in a row. Brent crude oil averaged $111.67 per barrel, slightly above the 2011 average of $111.26. West Texas Intermediate oil averaged $94.05 per barrel in 2012, down slightly from $94.88 in 2011.

What will the price of oil be 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).

What was the difference in oil prices in 2011 and 2012?

The differential between Brent and WTI spot prices historically was just a few dollars per barrel in either direction. In 2011, the Brent premium over WTI averaged $16.38 per barrel; however, in 2012 this premium widened to $17.61 per barrel. Source: U.S. Energy Information Administration, Petroleum Navigator .

What was the price of oil in January 2009?

However, because of the financial crisis and an abrupt loss of demand for oil globally, the price of Average Crude fell as much at 70% off highs in January of 2009. Average Crude Oil Spot Price is at a current level of 66.40, up from 62.95 last month and up from 30.38 one year ago.

What was the average price of crude oil in 2008?

This metric gives a nice overview of the broad crude oil market, rather than looking at one type of crude oil price alone. One of the most notable times for the Average Crude Oil Spot Price was in 2008. Prices for the Average Crude reached as high as $114/barrel because of large cuts in production.

What was the price of oil in 2001?

Oil Prices by Year: Average, High, Low, and Events Year Average Low High Causes 2001 $21.99 $15.95 $24.97 Recession and 9/11 2002 $23.71 $17.04 $27.14 Afghanistan War 2003 $27.73 $24.48 $32.23 2004 $35.89 $30.11 $45.36

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