Oil Ends Volatile Year with 2nd Straight Annual Gain

Oil prices swung wildly in 2022 with Brent reaching $139.13/barrel. Settled at $85.91 year-end, gaining ~10%.

Market Overview

• Brent peak: $139.13/barrel
• Brent year-end: $85.91/barrel
• Annual gain: ~10%
• Kuwait's key role in OPEC+