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Crude Oil Supply in Global Market

The Crude Oil Supply showcased a major escalation in quarter 1 of 2022 after the values shot up from USD88.15 to USD107 per barrel from January and March. India began to see an increase in its oil import bill due to the surge in international oil prices, which surpassed USD100 in H2 of Q1 for the first time in nearly eight years since 2014, as it imports more than 80% of its crude oil from the international market.

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Crude Oil Supply in Global Market

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  1. Crude Oil Price Trend and Forecast In North America, the Crude Oil Price skyrocketed during the first quarter of 2022 after they escalated from USD82.25 to USD107.24/barrel from January to March 2022. In the first month of Q1, WTI Crude Oil breached seven-year highs, closing on USD86.96/barrel on 19th January. Despite the commitment by OPEC+, the supplies remained disrupted, rather the production was 35% below than the expected levels. Exacerbating unrest in Kazakhstan, Libya supply outages along with geopolitical tensions between Russia and Ukraine, worsened the supply shortage pushing up the crude futures. A fire on a pipeline transporting crude oil from Iraq's Kirkuk oil fields to the Turkish port of Ceyhan for export in mid-January sent shockwaves through the crude oil market, exacerbating supply chain concerns given Iraq's position as OPEC's second-largest producer. Crude oil prices hit new highs for the first time in eight years in the second half of Q1 of this year. More few releases from the strategic will likely be announced by the US administration. Several Western countries imposed harsh penalties against Russian enterprises in order to deter Putin's hostility. https://www.chemanalyst.com/Pricing-data/crude-oil-1093

  2. Free Search Crude Oil prices online

  3. In North America, the prices of crude oil skyrocketed during the first quarter of 2022  The prices of crude oil showcased a major escalation in quarter 1 of 2022 after the values shot up from USD88.15 to USD107 per barrel from January and March. India began to see an increase in its oil import bill due to the surge in international oil prices, which surpassed USD100 in H2 of Q1 for the first time in nearly eight years since 2014, as it imports more than 80% of its crude oil from the international market. The crude and gas markets intensified as tensions between the two countries rose following Russian President Vladimir Putin's decision to launch "military actions" along the Ukraine border. However, India was unconcerned about the supply disruption due to political turmoil, as Russia accounted for only 1% of the country's total imports in 2021. https://www.chemanalyst.com/Pricing-data/crude-oil-1093

  4. Demand of Crude Oil In the European online The price trend of crude oil showcased a major escalation in quarter 1 of 2022 after the values shot up from USD88.15 to USD107 per barrel from January and March.  The record high prices of oil and Natural gas severely hit the European energy market in the 1st quarter of 2022 after the Russia’s aggressive military attack on Ukraine.

  5. Crude oil pricing hit new highs for the first time in eight years in the second half of Q1 of this year

  6. Crude Oil Supply in Global Market

  7. Contact Us: ChemAnalyst Contact No:- +1 3322586602 E-Mail:- sales@chemanalyst.com websites:- www.chemanalyst.com

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