Throughout the year, one barrel averaged $69, which remains the lowest level even when adjusted for inflation, recorded since 2020.
The reason for the price decline, according to the American agency, was the excess of supply over demand: 108.0 million barrels per day compared to 104.7 million barrels per day in the fourth quarter.
At the same time, the accumulation of oil reserves in China helped to soften the price drop, acting as an additional source of demand and contributing to the withdrawal of barrels from the global market.
