Why was oil so expensive in 2013?

Why was oil so expensive in 2013?

Increased worldwide demand was one reason. Brent Crude remained high at $118.38 partly due to supply problems in Europe, including lower North Sea production and the continuing war in Libya. On August 4, the price of oil dropped 6% to its lowest level in 6 months. As of November 8, the price reached $96.80.

What were oil prices in 2012?

WTI Crude Oil Prices – 10 Year Daily Chart

Crude Oil Prices – Historical Annual Data
Year	Average Closing Price	Annual % Change
2012	$94.05	-7.08%
2011	$94.88	8.15%
2010	$79.48	15.10%

What was the crude oil price in 2013?

Crude Oil (petroleum) Monthly Price – US Dollars per Barrel

Month	Price	Change
Oct 2012	103.41	-2.70 %
Nov 2012	101.17	-2.17 %
Dec 2012	101.19	0.02 %
Jan 2013	105.10	3.86 %

What was the price of oil in 2014?

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
2017	54.25
2016	43.67
2015	52.32
2014	98.97

What was the average oil price in 2012?

This article continues a series of briefs on energy market trends 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.

What was the price of oil in March 2013?

Note: The prices we use are for Illinois Crude Oil (Sweet) which will generally be a couple of dollars less than the West Texas intermediate (WTI) or NY Crude spot price. For instance in March of 2013 West Texas Intermediate crude averaged $90.50/ barrel while Illinois Sweet averaged $87.50.

What was the increase in crude oil in 2012?

U.S. crude oil production rose by an estimated 780,000 barrels per day (bbl/d) in 2012, the largest yearly increase to date.

What is the current price of crude oil?

The current price of WTI crude oil as of March 12, 2021 is $65.61 per barrel.