In the second half of 2021, oil prices were a critical socio-economic topic globally and even here in Kenya. Oil prices increased as the world was coming out of a prolonged period of low prices that stretched from 2014 when prices dropped from above $100 per barrel to as low as $25, caused by a global oil glut.
In 2020, the Covid pandemic had further depressed prices as oil demands came under attack from a Covid pandemic. From mid-2021 prices suddenly recovered as oil demands rebound in a world becoming resilient to Covid.
