How much is oil per barrel today?

Crude Oil & Natural Gas

What was the lowest price for a barrel of oil?

In the middle of the financial crisis of 2007–2008, the price of oil underwent a significant decrease after the record peak of US$147.27 it reached on 11 July 2008. On 23 December 2008, WTI crude oil spot price fell to US$30.28 a barrel, the lowest since the financial crisis of 2007–2008 began.

What is the highest price for a barrel of oil?

Historically, Crude oil reached an all time high of 147.27 in July of 2008.

What is the average oil price in 2021?

70.68 U.S. dollars per barrel
The average annual price of Brent crude oil climbed to 70.68 U.S. dollars per barrel in 2021. This is close to 30 U.S. dollars higher than the annual average in 2020, when weakened demand during the coronavirus pandemic resulted in an oil crisis.

How much does a barrel of oil cost?

A world oil price in the range of $55 to $60 per barrel is less than the cost of Russian Arctic oil production, European and Brazilian biofuel production, US and Canadian shale and tight oil production, and Brazilian presalt oil production.

How much does a gallon of oil cost?

The average cost is $1 to $2 per gallon of waste oil. It’s hard to find anyone willing to buy the sludge due to possible contamination. The cost of disposing of an old oil tank is $200 to $300. This does not include transport if the disposal location is far.

What is the price of crude oil per barrel?

According to a January 2020 EIA report, the average price of Brent crude oil in 2019 was $64 per barrel compared to $71 per barrel in 2018. The average price of WTI crude oil was $57 per barrel in 2019 compared to $64 in 2018.

What is oil price forecast?

The EIA forecast that Brent crude oil prices will average $68/b in the third quarter of 2021 and $60/b in 2022. Prices are increasing due to higher demand as more people are vaccinated against COVID-19. OPEC is beginning to increase production after limiting it due to decreased demand for oil during the pandemic.