In the Last Quarter, Crude Oil Prices were $73.01/barrel in the US, $72.5/barrel in India, and $77/barrel in Germany, influenced by inventory levels, demand, and policy changes.
The latest report by IMARC Group, titled " Crude Oil Pricing Report 2024: Price Trend, Chart, Industry Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of the Crude Oil Price Trend. This report delves into the price of Crude Oil globally, presenting a detailed analysis and an informative Crude Oil price chart. Through comprehensive Crude Oil price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Crude Oil demand, analyzing how it impacts industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasts, making this report an invaluable resource for industry stakeholders.
Report Offering:
- Monthly Updates - Annual Subscription
- Quarterly Updates - Annual Subscription
- Biannually Updates - Annual Subscription
The study delves into the factors affecting Crude Oil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the industry, equipping stakeholders with the latest information on industry fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/crude-oil-pricing-report/requestsample
Key Details About the Crude Oil Price Trend- Last Quarter
The crude oil market is driven by global economic growth, industrial activity, and transportation needs. As economies expand and industrialize, the demand for energy, particularly for transportation fuels like gasoline and diesel, increases. Conversely, supply dynamics are shaped by the production levels of major oil-exporting countries, including OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC producers. In addition to this, geopolitical tensions, conflicts, and policies in key oil-producing regions can disrupt supply and lead to price volatility. Moreover, significant technological advancements, such as hydraulic fracturing and deep-water drilling, have also impacted supply by increasing production from previously inaccessible reserves.
Factors Influencing Crude Oil Prices in the Last Quarter
In North American – Last Quarter
In North America, prices experienced a stable to bullish trend driven by a combination of tight supplies and strong demand. The U.S. saw a moderate increase in crude oil prices due to a lower-than-expected decrease in crude oil inventories, coupled with extreme winter weather impacting oil production, particularly in North Dakota. The ongoing OPEC+ production cuts of 2.2 million barrels per day also played a significant role, supporting higher prices despite challenges such as rising freight costs and geopolitical tensions. The market was also influenced by the International Energy Agency’s revised global oil consumption growth rate and inflation concerns, which further impacted the pricing dynamics. The interplay between constrained production, increased demand, and logistical challenges led to a noticeable uptick in crude oil prices in the U.S. during the quarter
In APAC – Last Quarter
On the other hand, in the Asia Pacific region, crude oil prices faced fluctuations due to a mix of local and international factors. Geopolitical tensions in the Middle East raised concerns about potential supply disruptions, contributing to market volatility. The imposition of a windfall profit tax by the Indian government dampened investment and reduced competitiveness, impacting local market dynamics. However, increased consumption of petroleum products, including a significant rise in gasoline demand due to strong vehicle sales, supported higher prices. The increase in domestic consumption in India, coupled with logistical challenges in the Red Sea, which affected global shipping routes, contributed to price volatility. Despite these challenges, the market saw a rebound towards the end of the quarter as demand remained robust and trading activities resumed. The combination of geopolitical risks, domestic consumption patterns, and logistical disruptions shaped the price trajectory in the APAC region, reflecting a complex set of influencing factors.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- ??????: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
Contact us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel NoD) +91 120 433 0800
United States: +1-631-791-1145
Comments (0)