", BNN Bloomberg & Bloomberg & OPEC, Lowest daily closing price of crude oil types worldwide during the coronavirus pandemic in 2020 Statista, https://www.statista.com/statistics/466293/lowest-crude-oil-prices-due-to-covid-19/ (last visited January 01, 2021), Lowest daily closing price of crude oil types worldwide during the coronavirus pandemic in 2020, Coronavirus: impact on the energy industry worldwide, Expected y-o-y fall in global oil demand due to coronavirus pandemic by source 2020, Fall in global petroleum refining volumes due to Covid-19 2020, Select information on global coal industry impacted by Covid-19 2020, Cut in oil sands production due to coronavirus in Canada 2020, Norway oil production cuts due to coronavirus 2020, Global solar capacity additions outlook due to Covid-19 2021, Global wind capacity additions outlook due to Covid-19 2020, Covid-19 impacts seen by global solar companies 2020, Solar and wind electricity demand in Europe during COVID-19 lockdown by country 2020, Global primary energy demand change by source 2019-2020, Global coal power generation year-on-year change due to COVID-19 lockdowns by country, Global natural gas power generation change due to COVID-19 lockdown by country 2020, Global solar power generation change due to COVID-19 lockdown by country 2020, Change in electricity output in Europe during COVID-19 lockdown by fuel type 2020, Electricity demand reductions in Europe during COVID-19 lockdown by country 2020, Coal electricity demand in Europe during COVID-19 lockdown by country 2020, Western Canadian Select (WCS) crude oil weekly prices December 2019-December 2020, Largest slump in crude oil prices during coronavirus pandemic by type 2020, Weekly U.S. Henry Hub natural gas price 2019-2020, Global oil and gas industry workforce cuts due to oil crises 2014-2020, Number of North Sea oil platform workers following coronavirus March 2020, North American E&P company number of bankruptcy filings Q2 2015-Q3 2020, U.S. renewable energy employment loss due to Covid-19 by key state 2020, U.S. oil and gas rig usage change due to oil crisis 2019-2020, U.S. monthly new-well oil production per rig by region in 2019-2020, Number of U.S. shale wells newly used by month 2019-2020, Global oilfield equipment market value 2014-2020, FDI in global renewables and oil & gas sector Q1 2020, Global oil and gas producers' capex reduction due to coronavirus impact 2020, U.S. reduced spending among select oil and gas companies due to Covid-19 2019-2020, Projected global oil & gas greenfield investments by segment 2014-2023, Projected COVID-19 impact on investments in oil & gas industry worldwide 2010-2025, Global oil and gas investor's opinion on future investments 2020, U.S. oil & gas executives opinion oil rig growth compared to WTI prices 2020, Share of U.S. households unable to pay energy bills April-May 2020, by ethnicity, Investment projects of energy companies in Romania during COVID-19 pandemic 2020, U.S. crude oil prices: annual average domestic first purchase prices 1975-2019, West Texas Intermediate oil price forecast 2018-2021, West Texas Intermediate (WTI) crude oil price monthly 2019-2020, Monthly average crude oil prices of the OPEC basket 2019-2020, Western Canadian Select (WCS) crude oil weekly prices December 2019-November 2020, Monthly crude oil price average for Brent 2019-2020, Western Canadian Select (WCS) crude oil monthly price 2019-2020, U.S. oil and gas rig usage change due to oil crisis as of March 2020, by basin, Volume variation of most popular crude oil imported by Italy H1 2020, Types of crude oil mainly imported by Italy H1 2020, WTI and Brent crude oil: average annual spot prices 1990-2019, Average Europe Brent spot prices 1990-2019, Average annual WTI crude oil spot prices 1990-2018, U.S. oil & gas producers' breakeven prices by oilfield 2020, Quarterly fuel price for major power producers in the United Kingdom (UK) 2012-2019, Crude oil futures prices: Cushing Oklahoma 1990-2019, Coronavirus (COVID-19): impact on the energy industry, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre, West Texas Intermediate in USD per barrel (April 20), Western Canadian Select in USD per barrel (April 21), TOCOM crude oil in JPY per kiloliter (April 22). Profit from additional features by authenticating your Admin account. The price of oil has sunk to levels not seen since 2002 as demand for crude collapses amid the coronavirus pandemic. Today's range: 51.05-51.39. "Lowest daily closing price of crude oil types worldwide during the coronavirus pandemic in 2020." For an optimal experience visit our site on another browser. Oil prices fell nearly 3% today, plunging for a fifth day as a rise in new coronavirus cases outside China fuelled fears of a pandemic that could slow the global economy and dent demand for crude. Weekly crude oil prices for Brent, OPEC basket, and WTI 2019-2020, Global onshore and floating oil storage capacity 2020, Influence of COVID-19 on electricity consumption in European countries March 2020. Brent crude oil is expected to trade at 48.69 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. On April 12, 2020, OPEC and Russia agreed to lower output to support prices. Crude Oil Prices - Historical Annual Data; Year Average Closing Price Year Open Year High … and over 1 Mio. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. Crude oil for May delivery emerged from negative territory on Tuesday, a day after hitting its lowest-ever level. The price graph will mainly remain flat during the following years, with oil hiking pass the $50 mark for the first time at the end of 2022. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: This statistic was assembled from three different sources. IE 11 is not supported. With demand at near-paralysis, oil and fuel tanks around the world are close to brimming. Oil forecast for ... this week and month. New, Everything you need to know about the industry development, Find studies from all around the internet. Prices are adjusted for Inflation to January 2020 prices using the Consumer Price Index (CPI-U) as presented by the Bureau of Labor Statistics.. Then you can access your favorite statistics via the star in the header. U.S. crude oil prices dropped by almost 300 percent to turn negative for the first time as plunging demand pushed storage facilities to their limits. May 6, 2020. facts. Lucy Bayly is the business editor for NBC News. The oil market has been under pressure in 2020, with the spot price for WTI crude oil declining by 20% since January as the COVID-19 pandemic has caused global demand to shrivel up. Please create an employee account to be able to mark statistics as favorites. Oil fell to an 18-year low on Wednesday as the global price war between OPEC and its former allies continued. The U.S. Energy Information Administration (EIA) expects that Brent prices will average $49/b in 2021, up from an expected average of $43/b in the fourth quarter of 2020. The forecast for higher crude oil prices next year reflects EIA's expectation that while inventories will remain high, they will decline with rising global oil demand and restrained OPEC+ oil production. Even a historic production cut agreement between OPEC and its allies did not provide the momentum to stanch the surplus, as producing countries continue to pump oil ahead of the May 1 implementation.