Surge in crude oil prices

Oil prices have hit their highest level since 2014, with benchmark Brent crude moving above $74 a barrel. Brent has risen 11.4% since January

Brent crude oil price ($ per barrel)   Average annual price
2014 $99.03
2015 $53.03
2016 $45.13
2017 $54.74
2018 $67.81

2014 2015 2016 2017 2018

$115.50 – Jun 19, 2014
$74.75 – Apr 19, 2018
$27.82 – Jan 20, 2016
Jan 1, 2017: Production cuts start. 1.8 million barrels per day by Opec and 0.6 million by Russia

© GRAPHIC NEWS
Sources: MacroTrends, Reuters
Picture: Getty Images