Oil Prices 2022: Here’s What Investors Need To Know

Oil Prices 2022: Here’s What Investors Need To Know

Oil prices have had a turbulent few years thanks to everything that's been happening around the globe. From a global pandemic that has lasted more than two years to a war that began earlier this year, these historical events have led to fluctuations in oil prices as we saw them dip into the negatives during the start of the pandemic and then earlier this year rise to $140 per barrier. OPEC+ recently announced that they were cutting oil production as the world continues to deal with rising inflation. Let's look at what's happening with oil prices in 2022 since many people are wondering what has been influencing them. It's difficult to pinpoint the most important issue facing oil prices right now. Let's look over some of the major factors that are impacting oil prices worldwide right now. The Russian war in Ukraine has drastically interrupted the oil supply, including sanctions against Russia. When Russia first attacked Ukraine, the oil prices went through the roof, jumping from around $76 per barrel at the start of the year to over $110 per barrel on March 4, 2022. The US then announced a ban on Russian oil on March 8, which further drove