Crude oil demand returns faster than supply, increasing prices and reducing inventories

Crude oil demand returns faster than supply, increasing prices and reducing inventories
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09.11.2021

The price of U.S. benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020. Because of the economic effects, government and business responses, and personal travel changes caused by the COVID-19 pandemic in 2020, demand for crude oil and petroleum products declined rapidly, inventories increased, and prices fell.

Full article at eia.gov

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