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Energy Price Monitor
Crude Oil
Crude Oil Price Forecast and History
very light oils; light oils; medium oils; and heavy fuel oils.
Crude oil is mainly employed as building block for the chemical industry; fuel production; plastics/rubber/resins manufacture; waxes; asphalt; and lubricants.
gasoline; diesel; fuel oil; propane; liquified natural gas; liquified petroleum gas; butane; naphta; petroleum asphalt; paraffin wax; and great variety of organic chemicals (hydrocarbons, aromatic compounds, alcohols, etc).
  • Extraction from wells/reservoirs/source rocks.
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<p><b>About Crude Oil Prices.</b> Crude oil is a key raw material for the industry, worldwide. It occupies such an important position in the global supply chain that its price can be used as an indicator of the state of the economy. As a result, having access to reliable crude oil price data is essential for several types of businesses.</p><p>The price of crude oil is influenced by a range of factors. For instance, increased demand, especially from emerging economies, can lead to higher prices. Additionally, the supply of crude oil is affected by production decisions made by oil-producing countries, and geopolitical events such as wars or sanctions.</p><p>Another factor that affects crude oil prices is governmental economic policies, such as taxes, subsidies, and regulations. For example, taxes on the production or consumption of crude oil can lead to higher prices, while subsidies can make it more affordable. Regulations that impact the supply of crude oil, such as import or export restrictions, can also affect its price.</p><p>Aside from individual governments, the Organization of the Petroleum Exporting Countries (OPEC) play an important role in defining Crude Oil Prices. Accounting for more than 40% of oil production and more than 70% of proven crude oil reserves, OPEC has been known to adjust its production levels to try and control the supply and demand dynamics of crude oil. The announcement of production cuts or increases by OPEC can cause market volatility and speculation, and even minor changes in OPEC's production levels can affect crude oil prices.</p><p>Transportation costs are another factor that can impact crude oil prices. Crude oil is typically transported by pipeline, ship, or truck to reach refineries. Disruptions in transportation infrastructure, such as natural disasters or road closures, can increase delivery times and transportation costs, leading to higher crude oil prices.</p>
Data Type: chem-pricing
Prices
Intratec provides Crude Oil prices, as follows:

Crude Oil Price

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Commodity

Crude Oil

World Region

Time Span

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Data Legend. The Crude Oil prices presented are primarily based on official statistics published by government agencies. For the world region Americas, check Crude Oil prices in the following countries:

  • United States Flag United States: Crude Oil contract price, FOB Cushing, WTI 40 API, US light sweet blend
  • Brazil Flag Brazil: Crude Oil export price, FOB, encompassing all commercial grades
  • Colombia Flag Colombia: Crude Oil export price, FOB, encompassing all commercial grades
  • Canada Flag Canada: Crude Oil export price, FOB, encompassing all commercial grades
  • Chile Flag Chile: Crude Oil import price, CIF, encompassing all commercial grades
  • Mexico Flag Mexico: Crude Oil export price, FOB, encompassing all commercial grades

Data Use. To better understand Energy Price References functionalities, check User Guide . For further information about data gathering methods, see Intratec methodology .

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About Crude Oil Prices. Crude oil is a key raw material for the industry, worldwide. It occupies such an important position in the global supply chain that its price can be used as an indicator of the state of the economy. As a result, having access to reliable crude oil price data is essential for several types of businesses.

The price of crude oil is influenced by a range of factors. For instance, increased demand, especially from emerging economies, can lead to higher prices. Additionally, the supply of crude oil is affected by production decisions made by oil-producing countries, and geopolitical events such as wars or sanctions.

Another factor that affects crude oil prices is governmental economic policies, such as taxes, subsidies, and regulations. For example, taxes on the production or consumption of crude oil can lead to higher prices, while subsidies can make it more affordable. Regulations that impact the supply of crude oil, such as import or export restrictions, can also affect its price.

Aside from individual governments, the Organization of the Petroleum Exporting Countries (OPEC) play an important role in defining Crude Oil Prices. Accounting for more than 40% of oil production and more than 70% of proven crude oil reserves, OPEC has been known to adjust its production levels to try and control the supply and demand dynamics of crude oil. The announcement of production cuts or increases by OPEC can cause market volatility and speculation, and even minor changes in OPEC's production levels can affect crude oil prices.

Transportation costs are another factor that can impact crude oil prices. Crude oil is typically transported by pipeline, ship, or truck to reach refineries. Disruptions in transportation infrastructure, such as natural disasters or road closures, can increase delivery times and transportation costs, leading to higher crude oil prices.

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