Please authenticate by going to "My account" → "Administration". Get short URL. }. According to its March Short Term Energy Outlook (STEO), the EIA now sees Brent spot prices averaging $60.67 per barrel and WTI spot prices averaging $57.24 per barrel this year. This feature is limited to our corporate solutions. 'author' : 'Andreas Exarheas', In this article 'tag' : 'Commodity_Prices,Analysis_Trends', var ssdl = ssdl || {} In its February STEO, the EIA projected that Brent spot prices would average $53.20 per barrel and WTI spot prices would average $50.21 per barrel in 2021. The U.S. Energy Information Administration (EIA) and Standard Chartered both increased their oil price forecasts for 2021 this week. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. 'audience' : 'News', Directly accessible data for 170 industries from 50 countries Published: 18 March 2021 The US Energy Information Administration (EIA) says it expects Brent crude oil prices to average $64 per barrel (p/b) in the second quarter of 2021 and then fall to less than $60 p/b through the end of 2022. 'industry_sector' : 'Downstream,Upstream', Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. New Delhi: Global crude oil prices are expected to be range bound and between $40-50 a barrel in 2021 as major oil producers have decided on a modest output rise from January that earlier anticipated, analysts have said on the emerging oil pricing scenario. The EIA boosted its 2021 West Texas Intermediate crude price forecast to $57.24 a barrel, up 14% from the January forecast. “The OPEC+ extension of existing supply cuts through April added significantly to near term upward oil price pressures,” the EIA noted in its March STEO. EIA forecasts that global consumption of liquid fuels will average 97.8 million barrels per day (b/d) in 2021 and 101.1 million b/d in 2022, only slightly less than the 2019 average of 101.2 million b/d. Statista. Standard Chartered left its 2022 average Brent and WTI forecasts unchanged at $59 per barrel and 56 per barrel, respectively. June natural gas fell 3 cents to $2.93 per 1,000 cubic feet. NEW DELHI: Crude oil prices rose by Rs 27 to Rs 4,827 per barrel on Wednesday as participants widened their positions on a firm spot demand. https://www.statista.com/statistics/326017/weekly-crude-oil-prices EIA expects global inventory draws will contribute to forecast rising crude oil prices in the first quarter of 2021. Quick Analysis with our professional Research Service: Show sources information Dollars per Barrel). 'longevity' : 'News', NEW YORK — U.S. crude oil production is expected to fall by 290,000 barrels per day (bpd) in 2021 to 11.02 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a steeper decline than its previous forecast for a drop of 270,000 bpd. This was roughly … Chart. (billed annually). According to Capital.com’s WTI crude oil forecast 2021, the price will reach the $50 per barrel level. MWV. All comments are subject to editorial review. 6 May, 2021 07:09. High global demand sends Russian Urals crude oil price soaring. Please contact us to get started with full access to dossiers, forecasts, studies and international data. In, MWV. The EIA stated that its March STEO remains subject to heightened levels of uncertainty because responses to Covid-19 continue to evolve. 'company_sentiment' : 'Positive', Russia’s Ministry of Finance said on Wednesday that the average price for domestic Urals oil benchmark stood at $62.50 per barrel in April, which is a … 'content_type' : 'About the Industry', The Brent price is then expected to average between $51/b and $54/b on a quarterly basis through 2022. Profit from additional features by authenticating your Admin account. “Reduced economic activity related to the Covid-19 pandemic has caused changes in energy demand and supply during the past year and will continue to affect these patterns in the future,” the EIA said. Looking at next year, the EIA expects Brent spot prices to average $58.51 and WTI spot prices to average $54.75 per barrel in 2022. Benchmark U.S. crude oil for June delivery rose 2 cents to $64.92 a barrel Monday. Brent crude oil for July delivery rose 4 cents to $68.32 a barrel. Wholesale gasoline for June delivery was little changed at $2.13 a gallon. Price of Brent crude oil in 2021 will vary mainly within the range of $40-45 per barrel, Moody’s rating agency forecast in its report. In March 2021, it estimated stocks dropped by 19 million barrels to end at 2.932 billion, 32 million barrels lower than a year ago. Please create an employee account to be able to mark statistics as favorites. You only have access to basic statistics. ssdl.editorialMetaData = { 'Country' : 'All', (May 7, 2021). NEW DELHI: Crude oil prices rose Rs 28 to Rs 4,791 per barrel on Monday as participants widened their positions on a firm spot demand. Oil trader’s in Ghana are expected to pay more when purchasing Crude Oil at the local pumps as prices of oil hit US$60 per barrel in the first quarter of the 2021 fiscal year. Barrel Price of Crude Oil in USA . "Average Monthly Brent Crude Oil Price from January 2020 to April 2021 (in U.S. 'content_origin' : 'Original Content', Are you interested in testing our corporate solutions? On the Multi Commodity Exchange, crude oil for the May delivery traded higher by Rs 27, or 0.56 per cent, at Rs 4,827 per barrel in 6,926 lots. Please do not hesitate to contact me. 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", MWV, Average monthly Brent crude oil price from January 2020 to April 2021 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/ (last visited May 12, 2021), Average monthly Brent crude oil price from January 2020 to April 2021, Global oil consumption in barrels per day 1998-2019, Weekly crude oil prices for Brent, OPEC basket, and WTI 2019-2021, Largest slump in crude oil prices during coronavirus pandemic by type 2020, Monthly crude oil price average for Brent 2020-2021, West Texas Intermediate annual average oil price 1976-2021, West Texas Intermediate (WTI) crude oil price monthly 2020-2021, Monthly average crude oil prices of the OPEC basket 2020-2021, Prices of OPEC Reference Basket oils 2002-2019, Gasoline price per liter in selected countries - June 2020, Change of gasoline price in selected countries 2019-2020, Diesel price per liter in selected countries - June 2020, Change of diesel price in selected countries 2019-2020, Canada: average retail price for regular, unleaded gasoline 2015-2021, Mexico: average price of gasoline per liter 2017-2020, by type, Prices of unleaded gasoline (95 RON) in Germany 2000-2021, Prices of unleaded gasoline (95 RON) in Italy 2000-2021, Prices of unleaded gasoline (95 RON) in Poland 2004-2020, Monthly fuel price of unleaded 95 octane in the United Kingdom (UK) 2016-2021, Average petrol prices in Nigeria 2019-2021, West Texas Intermediate oil price forecast 2019-2022, Gasoline demand growth worldwide 2001-2025, Quarterly oil price forecast for UK Brent and West Texas Intermediate 2015, Forecast of Urals crude oil price 2021-2024, Crude oil initial reserves in Canada by region and type 2016, Canada's production of crude oil by type 2012-2018, Economic impact of falling oil and gas prices on U.S. economy 2015, Western Canada crude oil production forecast by oil type 2014-2035, Global breakeven offshore oil price by company and project 2018, Most emission-intensive crude oil types worldwide, Price of fuel oil in New Zealand 2012-2020, by type, United Kingdom (UK) oil price forecast in U.S. dollars 2017-2024, Volume variation of most popular crude oil imported by Italy H1 2020, U.S. low oil price impact on energy organizations 2019, Types of crude oil mainly imported by Italy H1 2020, Average monthly gasoline retail prices Kumamoto 2017-2018, Average monthly gasoline retail prices Kochi 2017-2018, Prices of diesel fuel in Belgium 2000-2021, Prices of unleaded gasoline (95 RON) in Lithuania 2004-2021, Prices of unleaded gasoline (95 RON) in Belgium 2000-2021, Average monthly Brent crude oil price from January 2020 to April 2021 (in U.S. dollars per barrel), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, annual price for one barrel of Brent Crude. May 7, 2021. Accessed May 12, 2021. https://www.statista.com/statistics/262861/uk-brent-crude-oil-monthly-price-development/, MWV. Learn more about how Statista can support your business. To contact the author, email andreas.exarheas@rigzone.com. Tightening Oil Supply Pushes Brent Crude Price Near $70 Per Barrel Phil Flynn. U.S. crude futures changed hands at $59.34 per barrel. Could Oil Prices Hit $80 Per Barrel? Average monthly Brent crude oil price from January 2020 to April 2021 (in U.S. dollars per barrel) [Graph]. New, Insights into the world’s most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development, Find studies from all around the internet. Brent spot prices were previously expected to average $55.19 per barrel in and WTI spot prices were expected to average $51.56 per barrel in 2022. At the time of writing, the price of Brent crude oil stood at $68.62 per barrel and WTI stood at $65.19 per barrel. facts. © Sputnik / Maxim Bogodvid. Oil ended little changed on Friday, with WTI crude settling around $64.90 per barrel but recording its second consecutive weekly gain amid a much sharper than expected drop in US crude inventories and an improved demand outlook in advanced economies such as as as the US and the EU. Show publisher information, Gas prices in the United States 1990-2020. On the downside, there is support from $46.10 per barrel to $44 per barrel, the December lows. Internationally, Brent crude oil prices averaged $65 per barrel (/b) in March 2021, up $3/b from February's average. May 5, 2021 01:00 PM Reports claim that Iran is ready to walk away from nuclear talks unless the … June heating oil rose 1 cent to $2.02 a gallon. Brent for March settlement added 18 cents to end the session at $56.08 a barrel The Bloomberg Dollar Spot Index weakened for a third session, … Crude oil analysis for January 2021: what happens next? Off-topic, inappropriate or insulting comments will be removed. Having moved past the key $50 per barrel level, the next resistance for WTI is the $54.65 February 2020 high, followed by the next psychological barrier at $60 per barrel. They're projected to average $65/b during the second quarter of 2021 and then average $61/b in the second half of 2021, according to the U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook released on April 6, 2021. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook 70 per barrel level in U.S generated by readers, the price reach., the price will reach the $ 50 per barrel level profit from additional features crude oil price in 2021 per barrel authenticating your Admin.... For July delivery rose 4 cents to $ 2.02 a gallon please authenticate by going to `` My account →. Of April 30, 2021 is $ 63.58 per barrel level quarter of 2021 futures changed hands $. And $ 54/b on a quarterly basis through 2022 comments included herein do not reflect the views opinions. 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