Russia-Ukraine war as traders foresaw significant supply shortages due to sanctions placed on Russia. By September, recession fears had resulted in the forecast being adjusted down slightly.
Brent crude oil is projected to have an average annual price of 101.48 U.S. dollars per barrel in 2022, according to a forecast from December 2022. Crude oil prices have been rising dramatically following the Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel)
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Other statistics that may interest you
Overview
2
Crude oil benchmarks
8
- Basic Statistic Weekly oil prices in Brent, OPEC basket, and WTI futures 2020-2023
- Basic Statistic Brent crude oil price annually 1976-2023
- Basic Statistic Monthly crude oil price average for Brent 2020-2023
- Premium Statistic OPEC oil price annually 1960-2023
- Basic Statistic Monthly average crude oil prices of the OPEC basket 2020-2023
- Basic Statistic West Texas Intermediate annual average oil price 1976-2023
- Basic Statistic West Texas Intermediate (WTI) crude oil price monthly 2020-2023
- Premium Statistic WTI crude oil price in times of global crisis 1968-2022
Crude oil prices by select country
5
- Premium Statistic Prices of OPEC Reference Basket oils 2002-2021
- Basic Statistic Oil price of Dubai Fateh 1973-2021
- Premium Statistic Venezuela's Merey average crude oil price 2019-2022
- Premium Statistic Urals crude oil price monthly 2007-2023
- Premium Statistic Average annual WCS oil price 2005-2021
Gasoline prices by select country
8
- Premium Statistic Annual gas prices in the United States 1990-2022
- Premium Statistic Canada: average retail price for regular, unleaded gasoline 2015-2022
- Premium Statistic Regular and premium gasoline prices in Mexico 2017-2021, by type
- Premium Statistic Prices of unleaded gasoline (95 RON) in Germany 2000-2021
- Premium Statistic Prices of unleaded gasoline (95 RON) in Italy 2000-2021
- Premium Statistic Prices of unleaded gasoline (95 RON) in Poland 2004-2022
- Premium Statistic Gasoline price in Russia monthly 2021-2023
- Premium Statistic Monthly unleaded 95 octane fuel prices in the United Kingdom (UK) 2017-2022
Outlook
3
Further related statistics
17
- Brent breakeven price for new global oil projects by source type 2014-2020
- Domestic first purchase crude oil prices in the U.S. 1975-2021
- Global oil and gas price ratio 1994-2018
- Projection of the wholesale price of crude oil in the United Kingdom (UK) 2020-2040
- United Kingdom (UK) oil price forecast in U.S. dollars 2017-2024
- Oil imports barrel price in Brazil 2009-2021
- OPEC+ deal oil output cut distribution in 2020, by country
- Major concerns of the Russian population in March 2020
- Crude oil price trend in India FY 2009-2022
- Crude oil futures prices: Cushing Oklahoma 1990-2021
- Annual change rate in average crude oil price in India FY 2012-2021
- Average annual crude oil futures contract 3 prices 1990-2021
- Average annual crude oil futures contract 4 prices 1990-2019
- Raw material export value from Japan to Europe 2019, by region
- Prices of diesel fuel in Lithuania 2004-2021
- Prices of unleaded gasoline (95 RON) in Austria 2000-2021
- Prices of unleaded gasoline (95 RON) in Denmark 2000-2021
Further Content: You might find this interesting as well
Statistics
- Brent breakeven price for new global oil projects by source type 2014-2020
- Domestic first purchase crude oil prices in the U.S. 1975-2021
- Global oil and gas price ratio 1994-2018
- Projection of the wholesale price of crude oil in the United Kingdom (UK) 2020-2040
- United Kingdom (UK) oil price forecast in U.S. dollars 2017-2024
- Oil imports barrel price in Brazil 2009-2021
- OPEC+ deal oil output cut distribution in 2020, by country
- Major concerns of the Russian population in March 2020
- Crude oil price trend in India FY 2009-2022
- Crude oil futures prices: Cushing Oklahoma 1990-2021
- Annual change rate in average crude oil price in India FY 2012-2021
- Average annual crude oil futures contract 3 prices 1990-2021
- Average annual crude oil futures contract 4 prices 1990-2019
- Raw material export value from Japan to Europe 2019, by region
- Prices of diesel fuel in Lithuania 2004-2021
- Prices of unleaded gasoline (95 RON) in Austria 2000-2021
- Prices of unleaded gasoline (95 RON) in Denmark 2000-2021
Topics

EIA. (December 6, 2022). Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel) [Graph]. In Statista. Retrieved June 04, 2023, from https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA. "Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel)." Chart. December 6, 2022. Statista. Accessed June 04, 2023. https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA. (2022). Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel). Statista. Statista Inc.. Accessed: June 04, 2023. https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA. "Brent Crude Oil Prices in 2020 and 2021, with a Forecast until 2023 (in U.S. Dollars per Barrel)." Statista, Statista Inc., 6 Dec 2022, https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/
EIA, Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel) Statista, https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/ (last visited June 04, 2023)
Brent crude oil prices in 2020 and 2021, with a forecast until 2023 (in U.S. dollars per barrel) [Graph], EIA, December 6, 2022. [Online]. Available: https://www.statista.com/statistics/409404/forecast-for-uk-brent-crude-oil-prices/