NAME - PRATHAM SINGHVI

ROLL NO. - 20231112

TOPIC - PETROLEUM PRICE ANALYSIS FROM YEAR 2005-2023
SUBJECT- MANAGERIAL ECONOMICS
SECTION - C
 Data of Petroleum price from year 2005 to 2023
Month Price/Barrel Month Price/Barrel
Month Price/Barrel Month Price/Barrel Month Price/Barrel Month Price/Barrel
17-Feb 3,647.03 Month Price/Barrel
8-Jun 5,631.69 11-Apr 5,159.40 14-Mar 6,343.00 17-Mar 3,355.09 20-Mar 2,392.98
5-Jan 1,880.23 20-Apr 1,603.02
8-Jul 5,689.98 11-May 4,851.80 14-Apr 6,329.60 17-Apr 3,365.04 23-Feb 6,628.99
5-Feb 1,957.60 14-May 6,273.13 17-May 3,213.83 20-May 2,298.55
8-Aug 4,919.52 11-Jun 4,747.57 23-Mar 6,292.90
5-Mar 2,225.57 11-Jul 4,793.30 14-Jun 6,471.05 17-Jun 2,975.01 20-Jun 2,987.46
8-Sep 4,540.91 23-Apr 6,763.43
5-Apr 2,215.05 11-Aug 4,550.04 14-Jul 6,320.51 17-Jul 3,071.23 20-Jul 3,156.01
8-Oct 3,535.80
14-Aug 6,092.56 17-Aug 3,194.46 20-Aug 3,243.75 23-May 6,102.52
5-May 2,080.20 8-Nov 2,644.71 11-Sep 4,811.93
11-Oct 4,916.61 14-Sep 5,835.69 17-Sep 3,413.19 20-Sep 2,984.05
5-Jun 2,348.85 8-Dec 2,010.86
11-Nov 5,343.29 14-Oct 5,280.84 17-Oct 3,574.53 20-Oct 2,931.66
5-Jul 2,454.20 9-Jan 2,142.12 17-Nov 3,887.81
11-Dec 5,486.72 14-Nov 4,748.53 20-Nov 3,141.53
5-Aug 2,700.01 9-Feb 2,059.46 17-Dec 3,930.99
12-Jan 5,484.92 14-Dec 3,806.55 20-Dec 3,589.35
5-Sep 2,709.21 9-Mar 2,391.75 18-Jan 4,215.16
12-Feb 5,540.26 15-Jan 2,927.20 21-Jan 3,918.56
9-Apr 2,517.58 18-Feb 4,085.16
5-Oct 2,608.22 12-Mar 5,927.55 15-Feb 3,398.51 21-Feb 4,399.41
9-May 2,822.25 18-Mar 4,171.72
5-Nov 2,516.77 12-Apr 5,888.49 15-Mar 3,299.23 21-Mar 4,646.36
9-Jun 3,303.55 18-Apr 4,516.93
5-Dec 2,576.49 12-May 5,655.94 15-Apr 3,611.03 21-Apr 4,684.64
9-Jul 3,137.00 18-May 4,959.75
12-Jun 5,083.60 15-May 3,988.78 21-May 4,870.98
6-Jan 2,773.13 9-Aug 3,461.09 18-Jun 4,879.75
12-Jul 5,372.19 15-Jun 3,915.30 21-Jun 5,281.48
6-Dec 2,722.26 9-Sep 3,310.80 Jul-18 4,992.51
12-Aug 5,848.75 15-Jul 3,458.51 Aug-18 4,942.53 21-Jul 5,460.90
7-Jan 2,373.05 9-Oct 3,461.10 21-Aug 5,108.73
12-Sep 5,798.48 15-Aug 2,973.16 Sep-18 5,448.55
7-Feb 2,541.99 9-Nov 3,611.43 21-Sep 5,359.17
12-Oct 5,476.43 15-Sep 3,064.43 Oct-18 5,648.69
7-Mar 2,667.95 9-Dec 3,491.65 21-Oct 6,146.58
12-Nov 5,536.01 15-Oct 3,055.95 Nov-18 4,476.09
7-Apr 2,742.35 10-Jan 3,541.88 15-Nov 2,847.43 21-Nov 5,952.69
12-Dec 5,526.62 Dec-18 3,822.07
7-May 2,658.01 10-Feb 3,463.32 15-Dec 2,435.40 21-Dec 5,504.55
13-Jan 5,708.32 Jan-19 4,003.08
7-Jun 2,779.56 10-Mar 3,607.99 16-Jan 2,004.00 22-Jan 6,247.71
13-Feb 5,784.94 Feb-19 4,352.94
10-Apr 3,745.92 16-Feb 2,117.58 22-Feb 7,018.51
7-Jul 2,974.64 13-Mar 5,575.84 Mar-19 4,432.04
10-May 3,461.17 16-Mar 2,503.95 22-Mar 8,569.88
7-Aug 2,862.54 13-Apr 5,375.04 Apr-19 4,761.33
10-Jun 3,479.77 16-Apr 2,708.63 May-19 4,664.02 22-Apr 7,877.96
7-Sep 3,096.50 13-May 5,468.66
10-Jul 3,495.72 16-May 3,072.75 Jun-19 4,149.67 22-May 8,511.74
7-Oct 3,238.90 13-Jun 5,817.69
10-Aug 3,531.14 16-Jun 3,208.66 Jul-19 4,230.22 22-Jun 9,119.55
7-Nov 3,602.45 13-Jul 6,292.38
10-Sep 3,504.32 16-Jul 2,966.28 Aug-19 4,102.97 22-Jul 8,366.39
7-Dec 3,530.67 13-Aug 6,836.67
10-Oct 3,629.80 16-Aug 3,004.16 Sep-19 4,282.87 22-Aug 7,634.90
8-Jan 3,570.71 13-Sep 6,926.83
10-Nov 3,793.46 16-Sep 3,006.05 Oct-19 4,069.14 22-Sep 7,079.45
13-Oct 6,497.77
8-Feb 3,710.34 10-Dec 4,065.66 Nov-19 4,314.32 22-Oct 7,437.13
13-Nov 6,435.78 16-Oct 3,290.46
8-Mar 4,109.92 11-Jan 4,206.66 16-Nov 3,056.29 Dec-19 4,509.77 22-Nov 7,150.11
13-Dec 6,534.28
8-Apr 4,353.72 11-Feb 4,450.50 16-Dec 3,572.84 Jan-20 4,395.91 22-Dec 6,429.95
14-Jan 6,344.00
8-May 5,165.85 11-Mar 4,888.11 14-Feb 6,529.28 17-Jan 3,649.89 Feb-20 3,811.78 23-Jan 6,584.69
 Graph of Petroleum price from year 2005 to 2023

Price/Barrel
10,000.00

9,000.00

8,000.00

7,000.00

6,000.00

5,000.00
Price

4,000.00

3,000.00

2,000.00

1,000.00

0.00
05 05 05 06 06 07 07 07 08 08 09 09 10 10 10 11 11 12 12 12 13 13 14 14 15 15 15 16 16 17 17 17 18 18 19 19 20 20 20 21 21 22 22 22 23
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J J N A S F D M O M A J J N A S F D M O M A J J N A S F D M O M A J J N A S F D M

Year
 Reasons for Price change :-
• In 2005, oil prices were quite low, averaging $50.2 per barrel. This was due to a variety of causes, including increasing
oil output from Iraq following the US-led invasion, as well as a slowdown in Chinese and Indian economic development.
• 2006: Oil prices began to soar in 2006, with a daily average of $60.3 per barrel. This was because of growing demand
from China and India, as well as fears over Iranian supply interruptions.
• In July 2007, oil prices reached a record high of $147.27 per barrel. This was due to a variety of factors, including fears
about Iranian supply interruptions and a robust global economy.
• Oil prices plummeted precipitously in 2008, averaging $97.2 per barrel. This was due to the worldwide financial crisis,
which caused a drop in oil consumption.
• 2009: Oil prices began to rebound in 2009, with a daily average of $69.7 per barrel. This was owing to the global
economy beginning to improve, as well as rising demand from China and India.
• In 2010, oil prices rose further, averaging $78.2 per barrel. This was due to growing demand from developing markets
as well as fears about Libyan supply interruptions.
• In May 2011, oil prices reached a new high of $107.95 a barrel. This was owing to worries over the Arab Spring, which
caused political unrest in the Middle East.
• 2012: Oil prices dropped dramatically in 2012, averaging $85.9 per barrel. This was related to the European debt crisis,
which caused a drop in oil consumption.
• Oil prices continued to rebound in 2013, with an average price of $96.3 per barrel. This was owing to the global
economy's continued expansion, as well as rising demand from China and India.
• In June 2014, oil prices reached a new high of $115.62 a barrel. This was owing to fears about interruptions
in supplies from Iraq and Libya.
• 2015: Oil prices dropped dramatically in 2015, averaging $53.2 per barrel. This was owing to a worldwide
supply glut created by increased production in the US and other nations.
• 2016: Oil prices fell more in 2016, averaging $43.9 per barrel. The reason for this was the continued global
supply glut.
• In 2017, oil prices began to rise, averaging $54.9 per barrel. This was owing to rising Chinese and American
demand.
• Oil prices rose again in 2018, reaching $70.8 per barrel. This was owing to fears about Iranian and
Venezuelan supply interruptions.
• 2019: Oil prices dropped dramatically in 2019, averaging $63.1 per barrel. This was due to the global trade
war, which caused a drop in oil demand.
• 2020: Oil prices dropped dramatically in 2020, averaging $40.8 per barrel. This was because of the COVID-19
epidemic, which caused a drop in oil consumption.
• 2021: Oil prices began to recover in 2021, averaging $67.6 per barrel. This was due to the global economic
recovery.2022: Oil prices reached a new record high of $139.13 in March 2022 due to the Russian invasion
of Ukraine.2023: Oil prices have fallen since the peak in March due to concerns about a global recession.
• 2021: Oil prices began to recover in 2021, averaging $67.6 per barrel. This was due to the global economic
recovery.
• 2022: Oil prices reached a new record high of $139.13 in March 2022 due to the Russian invasion of Ukraine.

• 2023: Oil prices have fallen since the peak in March due to concerns about a global recession .

Source :-
https://www.mycarhelpline.com/index.php?option=com_easyblog&view=entry&id=808&Itemid=91
https://www.indexmundi.com/commodities/?commodity=crude-oil&months=240
https://mopng.gov.in/en/petroleum-statistics/prices-under-recoveries
https://www.indexmundi.com/commodities/?commodity=crude-oil&months=240&currency=inr
https://www.statista.com/statistics/262858/change-in-opec-crude-oil-prices-since-1960/