Brent crude oil prices averaged $19 per barrel less in 2023 than 2022

Brent crude oil prices averaged $19 per barrel less in 2023 than 2022
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02.01.2024

The price of Brent crude oil averaged $83 per barrel (b) in 2023, down from $101/b in 2022, a difference of $19/b after rounding. Global markets adjusted to new trade dynamics, with crude oil from Russia finding destinations outside the EU, and global crude oil demand fell short of expectations. Those dynamics offset the impacts from OPEC+ crude oil supply curbs.

Full article at eia.gov

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