5 ms·

The increase since 2020 is still mind boggling. It was below $2.20 in 2020.

• jcranmer 4y ago
  The price in 2020 was artificially low because oil demand dropped off a cliff due to the lockdowns.
• Finnucane 4y ago
  If people went back to driving like they did in 2020, the price would likely drop.
  • anigbrowl 4y ago
    I wish they would. The air quality noticeably improved where I live.
    • Finnucane 4y ago
      It was great for biking.
• tzs 4y ago
  The US position back then was that that was too low, and used the threat of cutting off military aid to get the Saudis and OPEC to cut production for two years to raise prices. https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4 https://www.reuters.com/article/us-global-oil-trump-saudi-sp...