Crude Oil Prices Today, Price Chart and Forecast Analysis Provided by Procurement Resource

Posted on 16 December, 2022 by Christeen Johnson

Request for Real Time Crude Oil Prices : https://www.procurementresource.com/resource-center/crude-oil-price-trends/pricerequest

Crude oil is a petroleum product that has not been refined. It is a naturally emerging hydrocarbon mix that exists in a liquid state under natural reservoirs, and the liquid remains at atmospheric pressure after undergoing surface separating structures. It is a blackish yellow colour used for fuel and chemical processing. Crude oil is refined to attain essential products such as diesel, gasoline, and other petrochemicals.

Saudi Arabia, Russia, United States, Canada, Iraq, United Arab Emirates (UAE), Nigeria, Kuwait, Kazakhstan, and Norway are the top Crude Oil producing countries worldwide.

Key Details About the Crude Oil Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Crude Oil price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The Crude Oil price chart, pricing database, and analysis can prove valuable for the procurement managers, directors, and decision-makers to build up their strongly backed up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Crude Oil Price Trend:

Crude oil is extensively used in energy carriers and can be mixed with jet fuel, gasoline, diesel, and heating oils. It is also employed in making asphalt, lubricating oil, tar, and paraffin wax. Several chemicals can also be obtained from the oil, such as petroleum coke, sulfur, and petrochemicals.

Also, many other by-products of the commodity are perfume, soap, fertilizer, insecticides, and vitamin capsules. As a result, the following Industrial uses of Crude Oil are impacting its price trend.

Key Market Players:

• Sinopec
• Royal Dutch Shell
• Saudi Arabian Oil Co.
• China National Petroleum Corporation
• BP p.l.c.
• Exxon Mobil Corporation
• Kuwait Petroleum Corporation
• Total SA
• LUKOIL

News and Events:

• September 20, 2022 - The prices of oil rose again on Tuesday because OPEC and its allies are constantly creating less than their rations and are headed towards another monthly decline for the fourth time before an anticipated U.S. interest rate hike which can lead to a curb in fuel demand and economic growth.

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About Us:

Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team track the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

Contact Us:

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