Skip to content
Northwest Trail

Northwest Trail

  • Comprehensive Market Research Report on Virtual Production Market 2023 Business
  • Importance Of Data And File Recovery Software Technology
  • Ear canal biometric systems are among the most recent innovations News
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024 Health
  • Aragonite Market: Global Industry Analysis, Growth Trends 2023-2030 Business
  • Plant Phenotyping Market Analysis 2020 to 2028 Business
  • Laughter Get Murkier… Renuka Moves Breach Of Privilege Motion News
  • Chaotic Meeting At Kejriwal’s Residence, BJP Members Walk Out News

Oil Prices lower in the year 2019 than they were in 2018

Posted on February 26, 2020 By MartinSmith

The rising production of United States crude oil had weighed on the prices of oil all through 2019 and combined with the growth in demand being weak in the previous year and the booming output of American oil which has resulted in the lower prices of oil on an average in the year 2019 in comparison to 2018 as per the Energy Information Administration in the United States on this Tuesday.

See also  Dallas Fed President says that labor market might be at the full employment levels

In the last year, the prices of oil had been trading in a narrow range as the production in the United States had grown and the demand growth had weakened to offset the factors which were bullish like the ongoing production cuts of OPEC and the flare-ups in geopolitics in the Middle Eastern region. The range of Brent price in the previous year had been only $20 per barrel which is the narrowest range that the benchmark has traded at since the year 2003 as per the EIA. The crude prices had raged between $47 and the level of $66 a barrel.

See also  Solid Life Insurance Advice to Help You Protect Your Family

In spite of the narrowest range of trading in over half a decade, the year of 2019 had seen the largest spike of prices in a day after 2008. This had happened on the first day of trading after the attacks had taken place on the oil facilities in Saudi Arabia in September which had made sure that close to 5% had been cut off the supply globally for many weeks.

See also  Mococa Produtos Alimentícios, a Brazilian dairy brand, invested in SIG's PAC. Trust operational digitisation

The hike in the prices had been short-lived as there were assurances from Saudi Arabia that they would be restoring the supplies soon and with the prospects of demand growth being very low due to the ongoing trade war.

###

News Tags:Oil Prices lower in the year 2019 than they were in 2018

Post navigation

Previous Post: Engineers arrested for racing General Motors cars
Next Post: Dallas Fed President says that labor market might be at the full employment levels

Related Posts

  • Uber changing its regulations to comply with the AB5 News
  • Smartphone sales in China fell in February, which is bad news for Apple News
  • A New Record for Thin-Film Photovoltaic Cell Efficiency Has Been Set News
  • Brain Signaling Changed Due To Increased Blood Pressure Health
  • Hubble image shows intricate and diverse galaxies News
  • Dallas Fed President says that labor market might be at the full employment levels News
  • Automobile
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Internet
  • News
  • Sports
  • Technology
  • Uncategorized
  • Vacuum Belt Dryer Market Forecast: Strategic Insights and Future Trends 2032
  • Vegetable-Oil-Based Cutting Fluids Market Landscape: Trends, Innovations, and Projections 2032
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024
  • Construction Materials Market: Trends, Analysis, and Future Outlook 2032
  • Offshore Wind Energy Market Size Overview 2024
  • Alongside its competitors, Qualcomm is interested in purchasing a stake in Arm Business
  • Most Likely to Host Extraterrestrial Life on Kepler 452B News
  • Telecom Companies Promise More Than Rs 74,000 Crore To Restrain Call Drops News
  • In the EU, Meta may be forced to close Facebook and Instagram News
  • Fixes for a bug in iCloud synchronisation have been released by Apple Internet
  • Gambling Myths and Facts Sports
  • quantum computing
    The Future of Business: How Quantum Computing is Transforming Industries Technology
  • WHO Chief Warns About Coronavirus Cases Outside China News

Copyright © 2025 Northwest Trail.

Powered by PressBook News WordPress theme