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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 ...
Brent is the leading global price benchmark for Atlantic basin crude oils. It is used to set the price of two-thirds of the world's internationally traded crude oil supplies. It is one of the two main benchmark prices for purchases of oil worldwide, the other being West Texas Intermediate (WTI).
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The company assumed its present name on 4 December 2013. [1] The following day it changed its TIDM (ticker symbol) to UKOG. [2]In March 2016 UKOG made national news with the flow-testing of the Horse Hill 1 well (HH-1) three miles north of Gatwick Airport, achieving the highest flow rates of an onshore well in the UK.
Amid the ongoing geopolitical concerns, energy prices climbed, and West Texas intermediate crude oil prices rocketed further above $100 per barrel to top $112 and reach the highest level since 2011.
"Petrocurrency" or (more commonly) "petrodollars" are popular shorthand for revenues from petroleum exports, mainly from the OPEC members plus Russia and Norway.Especially during periods of historically expensive oil, the associated financial flows can reach a scale of hundreds of billions of US dollar-equivalents per year – including a wide range of transactions in a variety of currencies ...
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