Live Crude Oil Price In Dollar Last 10 Years
Crude oil, also known as petroleum, is one of the most important commodities in the world. It is a fossil fuel that is used to power a large percentage of the world’s transportation and industrial machinery. The price of crude oil is constantly changing due to a variety of factors, such as supply and demand, geopolitical tensions, and global economic conditions. In this article, we will take a look at the live crude oil price in dollar over the last 10 years.
2010 - A Year of Recovery
The year 2010 was a period of recovery for the global economy after the financial crisis of 2008. The average price of crude oil in 2010 was around $79 per barrel. However, the price of crude oil experienced some volatility during the year, with prices reaching a high of $92 per barrel in May and a low of $70 per barrel in June.
2011 - The Year of Political Tensions
The year 2011 was marked by political tensions in the Middle East, particularly in Libya. This led to a spike in crude oil prices, with prices reaching a high of $114 per barrel in April. The average price of crude oil in 2011 was around $95 per barrel.
2012 - A Year of Stability
The year 2012 was a period of stability for crude oil prices. The average price of crude oil in 2012 was around $94 per barrel, with prices ranging from a low of $80 per barrel in June to a high of $112 per barrel in September.
2013 - A Year of Declining Prices
The year 2013 was marked by declining crude oil prices. The average price of crude oil in 2013 was around $94 per barrel, with prices reaching a low of $86 per barrel in April and a high of $110 per barrel in September.
2014 - A Year of Dramatic Price Drops
The year 2014 was a year of dramatic price drops in crude oil. The average price of crude oil in 2014 was around $85 per barrel, with prices reaching a low of $56 per barrel in December. This was due to a combination of factors, such as oversupply and weak demand.
2015 - A Year of Continued Decline
The year 2015 saw a continuation of the decline in crude oil prices. The average price of crude oil in 2015 was around $49 per barrel, with prices reaching a low of $38 per barrel in December. This was due to a combination of factors, such as oversupply, weak demand, and the decision by OPEC not to cut production.
2016 - A Year of Recovery
The year 2016 was a year of recovery for crude oil prices. The average price of crude oil in 2016 was around $43 per barrel, with prices reaching a high of $55 per barrel in December. This was due to a combination of factors, such as production cuts by OPEC and non-OPEC countries and a reduction in global supply.
2017 - A Year of Stability
The year 2017 was a period of stability for crude oil prices. The average price of crude oil in 2017 was around $54 per barrel, with prices ranging from a low of $44 per barrel in June to a high of $64 per barrel in January.
2018 - A Year of Volatility
The year 2018 was marked by volatility in crude oil prices. The average price of crude oil in 2018 was around $71 per barrel, with prices reaching a high of $86 per barrel in October and a low of $47 per barrel in December. This was due to a combination of factors, such as geopolitical tensions, supply disruptions, and global economic conditions.
2019 - A Year of Moderation
The year 2019 was a period of moderation for crude oil prices. The average price of crude oil in 2019 was around $64 per barrel, with prices ranging from a low of $50 per barrel in January to a high of $75 per barrel in April. This was due to a combination of factors, such as production cuts by OPEC and non-OPEC countries and a reduction in global supply.
2020 - A Year of Historic Lows
The year 2020 was marked by historic lows in crude oil prices. The average price of crude oil in 2020 was around $40 per barrel, with prices reaching a low of $11 per barrel in April. This was due to a combination of factors, such as oversupply, weak demand, and the impact of the COVID-19 pandemic on the global economy.
Conclusion
The live crude oil price in dollar over the last 10 years has been marked by periods of stability, volatility, and dramatic price drops. The price of crude oil is influenced by a range of factors, such as supply and demand, geopolitical tensions, and global economic conditions. Understanding these factors is important for investors and businesses that rely on crude oil as a key commodity.