How much is a barrel of oil right now?
The current price of WTI crude oil as of March 26, 2021 is 60.97 per barrel..
How much has oil production dropped?
U.S. crude oil production fell by 8% in 2020, the largest annual decrease on record. U.S. crude oil production averaged 11.3 million barrels per day (b/d) in 2020, down 935,000 b/d (8%) from the record annual average high of 12.2 million b/d in 2019.
How much is a barrel of oil 2020?
WTI Crude Oil Prices – 10 Year Daily ChartCrude Oil Prices – Historical Annual DataYearAverage Closing PriceYear High2020$39.68$63.272019$56.99$66.242018$65.23$77.4132 more rows
What is the lowest oil price ever?
Oil hit $0.01 a barrel before falling to as low as negative $40 and eventually settling at negative $37.63, the lowest level recorded since the New York Mercantile Exchange began trading oil futures in 1983.
How much oil is left in the world?
There are 1.65 trillion barrels of proven oil reserves in the world as of 2016. The world has proven reserves equivalent to 46.6 times its annual consumption levels. This means it has about 47 years of oil left (at current consumption levels and excluding unproven reserves).
What is the highest price a barrel of oil has ever been?
The absolute peak occurred in June 2008 with the highest inflation-adjusted monthly average crude oil price of $148.93 / barrel.