Live Crude Oil Price In Dollar Last 5 Years
Crude oil is one of the most important commodities in the world. It is used to fuel cars, power plants, and other industrial processes. The price of crude oil is therefore a crucial factor in the global economy. In this article, we will examine the live crude oil price in dollars for the last five years.
The Year 2016
In 2016, the price of crude oil was very low due to oversupply in the market. The average price for the year was around $43 per barrel, which was down from the previous year's average of $52 per barrel. The lowest price for the year was $26 per barrel in February, while the highest price was $54 per barrel in December.
The Year 2017
In 2017, the price of crude oil started to recover. The average price for the year was around $52 per barrel, which was up from the previous year's average. The lowest price for the year was $44 per barrel in June, while the highest price was $60 per barrel in December.
The Year 2018
In 2018, the price of crude oil continued to rise. The average price for the year was around $71 per barrel, which was up significantly from the previous year's average. The lowest price for the year was $59 per barrel in February, while the highest price was $86 per barrel in October.
The Year 2019
In 2019, the price of crude oil was volatile. The average price for the year was around $64 per barrel, which was down from the previous year's average. The lowest price for the year was $50 per barrel in December, while the highest price was $75 per barrel in April.
The Year 2020
In 2020, the price of crude oil was heavily impacted by the COVID-19 pandemic. The average price for the year was around $41 per barrel, which was down significantly from the previous year's average. The lowest price for the year was $16 per barrel in April, while the highest price was $62 per barrel in January.
Conclusion
The live crude oil price in dollars for the last five years has been volatile. It has been influenced by global events such as oversupply, geopolitical tensions, and the COVID-19 pandemic. However, crude oil remains an essential commodity for the world economy, and its price will continue to be closely watched by investors and economists.