World demand for palladium increased from 100 tons in 1990 to nearly 300 tons in 2000. The global production of palladium from mines was 222 tonnes in 2006 according to the United States Geological Survey. Many were concerned about a steady supply of palladium in the wake of Russia's annexation of Crimea, partly as sanctions could hamper Russian palladium exports; any restrictions on Russian palladium exports could have exacerbated what was already expected to be a large palladium deficit in 2014. Those concerns pushed palladium prices to their highest level since 2001. In September 2014 they soared above the $900 per ounce mark. In 2016 however palladium cost around $614 per ounce as Russia managed to maintain stable supplies. In January 2019 palladium futures climbed past $1,344 per ounce for the first time on record, mainly due to the strong demand from the automotive industry. Palladium reached on 6 January 2020, passing $2,000 per troy ounce the first time.