Crude oil WTI lost 24.8 percent in 2018

Crude oil lost 44.3 percent from high $76.41 to low $42.53 on three months fall from October 03. until December 24. It was the biggest losing streak in the past several years due the oversupply, Saudi record output and fear from the global economic slowdown. As the oil price opened 2018 at $60.17 per barrel and spent most of the year above, the average price for 2018 remain high at $64.90 per barrel. As in the first 9 months of 2018 oil spent mostly bullish, constantly rising from 60.17 to 76.41 the 12 months fall at the end of the year looks slightly better with loss of 24.8 percent in 2018. Read more

Oil price fell by 30 percent in October/November to $53 per barrel

It looks like the Crude oil price fall has no end as it reached a $53 per barrel yesterday, the lowest level in more then 12 months. In total, from the high of the year 2018 at $76,41 in October 03. Crude oil lost 30 percent until yesterday, slightly recovered to $54,40 in the morning. Due the oversupply and Saudi record output which reached the highest levels in 2018 it’s a normal market reaction. According to Bloomberg data Saudi Arabian oil production surged to a record, near 11 million barrels a day this month. Read more