U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
Today in Energy
Energy and Financial Markets: What Drives Crude Oil Prices?
Yesterday, EIA launched a new web-based assessment highlighting key factors that can affect crude oil prices called "Energy and Financial Markets: What Drives Crude Oil Prices?" This new product features a dashboard showing recent trends in several of these factors, including both physical fundamental factors and factors dealing with trading and financial markets.
- Spot prices
- OPEC production
- Non-OPEC production
- OECD consumption
- Non-OECD consumption
- Financial markets
Understanding oil price movements and their underlying drivers was the impetus in creating this new product. Oil prices have fluctuated a great deal in recent years, reaching over $140 per barrel in the summer of 2008, then falling by about $100 in subsequent months before rebounding. Gasoline prices paid at the pump experienced similar fluctuations during this period.