*5 QUESTIONS*
· The question to be asked is, why did the pattern(s) occur or not occur?
· What occurred beginning in 2005 that increased the price of oil and why did it continue to increase until 2008?
· What occurred beginning in 2009 that increased the price of oil and why did it continue to increase until 2012?
· What occurred beginning in 2013 that decreased the price of oil and why did it continue to decrease until 2017?
· What occurred beginning in 2020 that increased the price of oil?(oil fluctuations during the Covid-19 pandemic)
Sheet1
| Brent Crude Oil Prices | ||
| Average Closing Price | ERROR:#N/A | |
| 1988 | $14.91 | $14.91 |
| 1989 | $18.23 | 17.234 |
| 1990 | $23.76 | 21.8022 |
| 1991 | $20.04 | 20.56866 |
| 1992 | $19.32 | 19.694598 |
| 1993 | $17.01 | 17.8153794 |
| 1994 | $15.86 | 16.44661382 |
| 1995 | $17.02 | 16.847984146 |
| 1996 | $20.64 | 19.5023952438 |
| 1997 | $19.11 | 19.2277185731 |
| 1998 | $12.76 | 14.7003155719 |
| 1999 | $17.90 | 16.9400946716 |
| 2000 | $28.66 | 25.1440284015 |
| 2001 | $24.46 | 24.6652085204 |
| 2002 | $24.99 | 24.8925625561 |
| 2003 | $28.85 | 27.6627687668 |
| 2004 | $38.26 | 35.0808306301 |
| 2005 | $54.57 | 48.723249189 |
| 2006 | $65.16 | 60.2289747567 |
| 2007 | $72.44 | 68.776692427 |
| 2008 | $96.94 | 88.4910077281 |
| 2009 | $61.74 | 69.7653023184 |
| 2010 | $79.61 | 76.6565906955 |
| 2011 | $111.26 | 100.8789772087 |
| 2012 | $111.57 | 108.3626931626 |
| 2013 | $108.56 | 108.5008079488 |
| 2014 | $98.97 | 101.8292423846 |
| 2015 | $53.03 | 67.6697727154 |
| 2016 | $45.13 | 51.8919318146 |
| 2017 | $54.71 | 53.8645795444 |
| 2018 | $71.34 | 66.0973738633 |
| 2019 | $64.28 | 64.825212159 |
| 2020 | $41.96 | 48.8195636477 |
| 2021 | $70.86 | 64.2478690943 |
| 2022 | $91.69 | 68.8763607283 |
Crude Oil Prices, Brent Crude
Actual 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 14.91 18.23 23.76 20.04 19.32 17.010000000000002 15.86 17.02 20.64 19.11 12.76 17.899999999999999 28.66 24.46 24.99 28.85 38.26 54.57 65.16 72.44 96.94 61.74 79.61 111.26 111.57 108.56 98.97 53.03 45.13 54.71 71.34 64.28 41.96 70.86 91.69 Forecast 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 #N/A 14.91 17.233999999999998 21.802199999999999 20.568659999999998 19.694597999999999 17.815379399999998 16.446613819999996 16.847984145999998 19.502395243799999 19.227718573139999 14.700315571941999 16.940094671582596 25.144028401474777 24.665208520442434 24.892562556132727 27.662768766839818 35.080830630051942 48.723249189015583 60.228974756704673 68.776692427011398 88.491007728103412 69.765302318431026 76.656590695529303 100.8789772086588 108.36269316259762 108.50080794877928 101.82924238463377 67.669772715390124 51.891931814617038 53.864579544385109 66.097373863315539 64.82521215899466 48.819563647698402 64.247869094309522
Years
Closing Prince per Barrel