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Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis.The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($75 to $28 in 2023 dollars).
English: The chart in the figure shows the change in WTI oil prices between 2013 and 2023 (data availability by CNBC). The x-axis of the graph shows dots of different colours for each year, representing the start price, end price, and the highest and lowest prices for each year. y-axis represents the price of oil in US dollars per barrel.
As for the price of oil, West Texas Intermediate — a benchmark used by oil markets representing U.S.-produced oil — rose 63 cents to $77.79 a barrel. "Michigan drivers are seeing much higher ...
OilPrice.com is reporting on a "plunge" below $75 a barrel in Brent crude prices (currently $74 and change). ... Exxon stock is down 3.2% in response, followed by BP at a 3.5% decline, with Conoco ...
"With oil prices falling below $70 per barrel, their lowest since 2021, there’s solid room for gas prices and diesel to continue falling for some time." More: Will Michigan gas dip below $3 a ...
These all seems subtly different to me. I think it would be better if the entire chart relied on the same source. Oil was not extracted in large quantities in the Middle East until the mid-20th century, and was first drilled in the North Sea in the 1970s, but the EIA has US domestic oil prices from 1859 all the way to today. It has month-by ...
In Michigan, gas prices hit an average high of $5.22 a gallon mid-2022, but come down significantly in recent months. ... If gas demand falls, alongside lower crude oil prices, pump prices could ...