What was the price of oil in 2013?
What was the price of oil in 2013?
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 |
|---|---|
| 2015 | 52.32 |
| 2014 | 98.97 |
| 2013 | 108.56 |
| 2012 | 111.63 |
Why were oil prices so high in 2013?
Oil supplies remained high, and Saudi Arabia assured an increase in production to counteract shutdowns. 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.
Why did oil prices collapse in 2014?
The initial drop in oil prices from mid-2014 to early 2015 was primarily driven by supply factors, including booming U.S. oil production, receding geopolitical concerns, and shifting OPEC policies.
How much is OPEC worth?
For example, if Arab Heavy represents 12% of total oil production in Saudi Arabia, the estimate assumes that Arab Heavy also represents 12% of Saudi Arabia’s total net oil exports….Methodology.
| Country | Total OPEC | |
|---|---|---|
| Nominal (billion $) | 2019 | $595 |
| 2020 | $326 | |
| 2021 | $411 | |
| Jan-Sept 2020 | $245 |
How much crude oil does Russia export per day?
However, recent international sanctions on Russia, coupled with low oil prices, have put pressure on the Russian economy. Russia exported more than 4.7 million barrels per day (b/d) of crude oil and lease condensate in 2014, based on data from the Federal Customs Service of Russia.
What was the average price of crude oil in 2013?
Annual Average Domestic Crude Oil Prices 2013 $91.17 $106.32 2014 $85.60 $98.20 2015 $41.85 $47.97 2016 $36.34 $41.09
How do hydrocarbons affect the Russian economy?
Hydrocarbons play a large role in the Russian economy, as revenue from oil and natural gas production and exports accounts for more than half of Russia’s federal budget revenue. However, recent international sanctions on Russia, coupled with low oil prices, have put pressure on the Russian economy.
What was the average price of crude oil in 1988?
Annual Average Domestic Crude Oil Prices 1988 $14.87 $33.12 1989 $18.33 $38.88 1990 $23.19 $46.55 1991 $20.20 $39.01
