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GNIS feature ID: 423034 [1] Oil Center is an unincorporated community in Crawford County, Illinois, United States. Oil Center is 2 miles (3.2 km) south of Stoy ...
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 ...
Using benchmarks makes referencing types of oil easier for sellers and buyers. There is always a spread between WTI, Brent and other blends due to the relative volatility (high API gravity is more valuable), sweetness/sourness (low sulfur is more valuable) and transportation cost. This is the price that controls world oil market price.
The Illinois Basin has produced more than four billion barrels of petroleum. [6] Major oil production began in 1905, and from 1907 through 1912, the basin was the third-most oil productive area in the United States. Oil production peaked in 1908 at 34 million barrels per year, and declined steadily to 5 million barrels in 1933.
GNIS feature ID: 414978 [1] Oilfield is an unincorporated community in Clark County, Illinois, United States. Oilfield is located along Illinois Route 49 north of Casey.
Grayville is a city in Edwards and White counties in the U.S. state of Illinois. As of the 2020 census , the city's population was 1,550, [ 3 ] down from 1,666 at the 2010 census . Grayville is the birthplace of naval hero James Meredith Helm .
The 2020 Russia–Saudi Arabia oil price war resulted in a 65% decline in global oil prices at the beginning of the COVID-19 pandemic. [111] [112] In 2021, the record-high energy prices were driven by a global surge in demand as the world recovered from the COVID-19 recession.
Illinois City is an unincorporated community in the U.S. state of Illinois, across the Mississippi River from Muscatine, Iowa. [2] It straddles Buffalo Prairie Township and Drury Township in Rock Island County, Illinois. [3] As of 2014, a United States Post Office, ZIP Code 61259, [4] remains open at 23828 124th Avenue West.