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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.
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 ...
On July 10, oil prices were the highest in more than a year as a result of lower supplies and trouble in Egypt. In the past week, Brent had climbed 7% to $108.51. Because too much oil was being produced for the infrastructure to handle it, West Texas Intermediate was lower than Brent for several years; it returned to being consistent with Brent.
December 12: Speaking in New York during a U.S. visit by Angolan President Eduardo dos Santos, Joaquim David, president of the state-owned oil company, Sonangol, states that Angola will increase its crude oil production by 10 percent per year over the next five years, reaching 720 million barrels per day (114,000,000 m 3 /d) by the end of 1996 ...
The U.S. became the leading world oil producer, exceeding 11 million barrels a day for the first time ever. This along with the highest OPEC production since 2016 led to WTI dropping 2.5% on November 1 to $63.69, its lowest finish since April, after falling 10.8% in October.
According to US Energy Information Administration data, firms in Texas and New Mexico led the surge. That level of production puts the US at odds with the plans of other oil-producing nations.
Oil is poised to rally beyond $90 per barrel by the end of the year amid record demand and tightening supply, according to UBS strategists. "We still see scope for global oil prices to rally ...
NEW YORK (Reuters) -Oil prices eased in volatile trade on Monday as some bearish economic news from the United States and Germany offset bullish support from a weaker U.S. dollar and forecasts for ...