Oil Price Per Barrel History 2020

Us oil prices turned negative monday for the first time ever as the great oil crash of 2020 took a bizarre turn.

Oil price per barrel history 2020. Oil prices 1946 present the first table shows the annual average crude oil price from 1946 to the present. Prices are adjusted for inflation to january 2020 prices using the consumer price index cpi u as presented by the bureau of labor statistics. Oil prices in the 1960s and 1970s global oil prices generally ranged between 2 50 and 3 00 a barrel until 1970. In 2020 oil prices plunged to a negative value in the wake of an abrupt drop in worldwide demand due to the covid 19 pandemic.

As of august 31th the opec basket stood at 46 27 u s. Prices plummeted in the second quarter with one day in april even closing at 37 b. Since the beginning of the year 2020 crude oil prices have hit a major slump. The international energy agency reported that high oil.

Crude finished at 37 63 a barrel marking the only time it has gone below zero. The price of oil is affected by global economic conditions and supply and demand as well as market speculation. The current price of wti crude oil as of september 04 2020 is 39 77 per barrel. That s about 17 to 20 a barrel when adjusted for inflation.

The prices shown are in u s. Worldwide crude oil prices will average 43 a barrel for the second half of 2020 and 50 b in 2021. Crude oil price are commonly measured in usd per barrel. The current price of wti crude oil as of september 04 2020 is 39 77 per barrel.

Energy information administration eia. That is according to the short term energy outlook by the u s. Mark haefele chief investment officer at ubs global wealth management said he expects the oil. Crude oil prices gas price charts.

1 oil prices started strong at 61 b in january 2020.