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Crude Oil Price per Barrel in India ( USD / INR )

Daily Crude Oil (Closing ) Price ( BRENT / WTI )

DATEWTIBRENTMCX India
21 Feb 24$ 77.91$ 83.03₹ 6445


DATEWTIBRENTMCX India
21 Feb 24$ 77.91$ 83.03 ₹ 6445
20 Feb 24$ 78.18$ 82.34 ₹ 6430
19 Feb 24$ 78.11$ 83.56 ₹ 6518
16 Feb 24$ 79.19$ 83.47 ₹ 6538
15 Feb 24$ 78.03$ 82.86 ₹ 6483
14 Feb 24$ 76.64$ 81.6 ₹ 6397
13 Feb 24$ 77.87$ 82.77 ₹ 6490
12 Feb 24$ 76.92$ 82 ₹ 6371
09 Feb 24$ 76.84$ 82.19 ₹ 6361
08 Feb 24$ 76.22$ 81.63 ₹ 6307
07 Feb 24$ 73.86$ 79.21 ₹ 6131
06 Feb 24$ 73.31$ 78.59 ₹ 6084
05 Feb 24$ 72.78$ 77.99 ₹ 6081
02 Feb 24$ 72.28$ 77.33 ₹ 6030


Crude oil Yearly Trend Chart | Historical Crude data

WTI Market - Crude oil Yearly Data ( Average & Closing Price )

YEARMARKETAVG PRICECLOSING PRICE% CHANGE
2018WTI$ 66.26$ 50.93-16 %
2017WTI$ 50.84$ 60.4213 %
2016WTI$ 43.58$ 53.7246 %
2015WTI$ 48.72$ 37.04-31 %
2014WTI$ 93.17$ 53.45-46 %
2013WTI$ 97.98$ 98.177 %
2012WTI$ 94.05$ 91.83-8 %
2011WTI$ 94.88$ 98.839 %
2010WTI$ 79.48$ 91.3816 %
2009WTI$ 61.95$ 79.3978 %
2008WTI$ 99.67$ 44.6-54 %
2007WTI$ 72.34$ 95.9558 %
2006WTI$ 66.05$ 60.85-1 %
2005WTI$ 56.64$ 61.0641 %
2004WTI$ 41.51$ 43.3634 %
2003WTI$ 31.08$ 32.515 %
2002WTI$ 26.19$ 31.2157 %
2001WTI$ 25.98$ 19.96-26 %
2000WTI$ 30.38$ 26.724 %
1999WTI$ 19.35$ 25.76113 %
1998WTI$ 14.42$ 12.14-32 %
1997WTI$ 20.61$ 17.65-32 %
1996WTI$ 22.12$ 25.933 %
1995WTI$ 18.43$ 19.5410 %
1994WTI$ 17.2$ 17.7726 %
1993WTI$ 18.43$ 14.19-28 %
1992WTI$ 20.58$ 19.492 %
1991WTI$ 21.54$ 19.15-33 %


BRENT Market - Crude oil Yearly Data ( Average & Closing Price )

YEARMARKETAVG PRICECLOSING PRICE% CHANGE
2018BRENT$ 72.59$ 59.7-11 %
2017BRENT$ 54.71$ 66.7318 %
2016BRENT$ 45.13$ 56.8253 %
2015BRENT$ 53.03$ 37.28-33 %
2014BRENT$ 98.97$ 55.27-50 %
2013BRENT$ 108.56$ 109.95-1 %
2012BRENT$ 111.57$ 110.83 %
2011BRENT$ 111.26$ 108.0916 %
2010BRENT$ 79.61$ 93.2320 %
2009BRENT$ 61.74$ 77.91118 %
2008BRENT$ 96.94$ 35.82-62 %
2007BRENT$ 72.44$ 93.6859 %
2006BRENT$ 65.16$ 58.962 %
2005BRENT$ 54.57$ 58.3445 %
2004BRENT$ 38.26$ 40.3834 %
2003BRENT$ 28.85$ 30.31 %
2002BRENT$ 24.99$ 30.1256 %
2001BRENT$ 24.46$ 19.35-15 %
2000BRENT$ 28.66$ 22.58-10 %
1999BRENT$ 17.9$ 24.93137 %
1998BRENT$ 12.76$ 10.54-34 %
1997BRENT$ 19.11$ 15.86-34 %
1996BRENT$ 20.64$ 23.929 %
1995BRENT$ 17.02$ 18.6515 %
1994BRENT$ 15.86$ 16.2324 %
1993BRENT$ 17.01$ 13.18-27 %
1992BRENT$ 19.32$ 17.851 %
1991BRENT$ 20.04$ 17.75-38 %

Daily Crude oil Price, Trend, Chart ( Brent & WTI )

How Crude Oil Prices Are Determined

Supply and Demand

The price of crude oil is heavily influenced by the balance between global supply and demand. When demand for oil exceeds supply, prices tend to rise, and when supply outpaces demand, prices tend to fall.

OPEC and Non-OPEC Production

Organizations like OPEC and other major oil-producing countries can adjust their production levels to stabilize or influence the oil market.

Geopolitical Events

Political instability, conflicts, and disruptions in major oil-producing regions can impact the supply of crude oil and lead to price spikes.

Economic Conditions

The overall health of the global economy affects oil prices. Economic growth increases demand for oil, while economic downturns reduce demand and lead to lower prices.

Currency Exchange Rates

Crude oil is priced in U.S. dollars, so changes in exchange rates can affect the purchasing power of countries with different currencies, influencing oil demand and prices.

Oil Inventories

The levels of crude oil and petroleum product inventories in storage facilities are closely monitored. High inventories indicate oversupply, while low inventories signal tight supply conditions.

Speculation

Speculators, such as hedge funds and financial institutions, influence oil prices through futures and options trading, leading to short-term price volatility.

Technological Advances

Advances in drilling technology and production techniques can increase the supply of oil and impact prices.

Environmental Regulations

Environmental policies and regulations can influence oil demand and long-term price trends, as efforts are made to reduce greenhouse gas emissions.

Weather Events

Severe weather events, like hurricanes, can disrupt oil production and transportation, leading to supply disruptions and price fluctuations.

Energy Policies

Government policies, subsidies, and taxes related to energy production and consumption can influence the oil market.

Market Sentiment

Traders and investors' perceptions and sentiment can impact short-term price movements. News, rumors, and market psychology can lead to price swings.

Crude oil prices are fixed based on the several criteria globally, In india we mostly import oil from Iran and other Countries based on the long term contracts. As we know, we are the major consumer of crude next to China, We exchange oil with USD / Indian Currencies, hence Crude oil price plays a major role in Indian Economy and day today life.

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