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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 ...
January: Nine OPEC members adjust prices to cut gap between light and heavy crudes from $4 to $2.40 per barrel. Saudi light price cut one dollar to $28 per barrel. March 11–19: Iranian offensive; heavy casualties. May–June: "Battle of the cities" - heavy bombing from both Iran and Iraq.
Yet increasing production and sales could lower prices in a global economy that analysts say is already well supplied with oil. U.S. oil has been stuck around $70 per barrel for weeks and traded ...
January: Nine OPEC members adjust prices to cut gap between light and heavy crudes from $4 to $2.40 per barrel. Saudi light price cut one dollar to $28 per barrel. March 11–19: Iranian offensive; heavy casualties. May–June: "Battle of the cities" - heavy bombing from both Iran and Iraq.
Oil prices fell 2% on Monday after China’s stimulatory plans failed to impress traders and oil alliance OPEC lowered its demand forecast. West Texas Intermediate closed at $73.83 per barrel ...
Oil production cuts by Russia and the Organization of the Petroleum Exporting Countries (OPEC) have helped push Brent crude prices up some 10% over the past month to roughly $93 per barrel.
October 8: OPEC meets with oil companies to discuss revision of 1971 Tehran agreement and oil prices. Negotiations fail. October 16: The Gulf Six (Iran, Iraq, Abu Dhabi, Kuwait, Saudi Arabia and Qatar) unilaterally raise the posted price of Saudi Light marker crude 17 percent from $3.12 to $3.65 per barrel and announce production cuts.
OPEC’s latest monthly oil report says “oil market fundamentals ... crude gained fractionally, hovering above $82 per barrel. The current oil price level is a stark difference from the 2023 ...