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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 National Automotive Parts Association (NAPA, also known as NAPA Auto Parts), is an American retailers' cooperative distributing automotive replacement parts, accessories, and service items throughout North America. Established in 1925, NAPA is a division of Atlanta-based Genuine Parts Company.
A sample of synthetic motor oil Synthetic oil is a lubricant consisting of chemical compounds that are artificially modified or synthesised. Synthetic oil is used as a substitute for petroleum-refined oils when operating in extreme temperature, in metal stamping to provide environmental and other benefits, and to lubricate pendulum clocks .
The United States synthetic fuels industry collapsed when oil prices fell in the early 1980s. On 2 May 1982, known as "Black Sunday", Exxon canceled its US$5 billion Colony Shale Oil Project near Parachute, Colorado because of low oil-prices and increased expenses, laying off more than 2,000 workers and leaving a trail of home-foreclosures and ...
By the mid-1980s, recommended viscosities had moved down to 5W-30, primarily to improve fuel efficiency. A typical modern application would be Honda motor's use of 5W-20 (and in their newest vehicles, 0W-20) viscosity oil for 12,000 kilometres (7,500 mi).
In June 2005, crude oil prices broke the psychological barrier of $60 per barrel. From 2005 onwards, the price elasticity of the crude oil market changed significantly. Before 2005 a small increase in oil price lead to an noticeable expansion of the production volume. Later price rises let the production grow only by small numbers.
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