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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 ...
[6] [7] The highest recorded price per barrel maximum of $147.02 was reached on July 11, 2008. [8] After falling below $100 in the late summer of 2008, prices rose again in late September. On September 22, oil rose over $25 to $130 before settling again to $120.92, marking a record one-day gain of $16.37.
After Saudi Arabia promised further production cuts, WTI reached $51.28 on January 7 and Brent climbed as high as $54.90, the highest since before COVID-19. [36] On January 14, a weaker dollar and an expected COVID-19 relief package helped oil move slightly higher, with WTI at $53.57 and Brent at $56.42, though Europe was experiencing more lockdowns and China had a higher number of COVID-19 ...
The US is pumping a record amount of oil. But that may not be welcome news to other crude-producing nations. Domestic output reached 13.4 million barrels a day in August, eclipsing all previous ...
January 20: Six exporting countries – Abu Dhabi, Iran, Iraq, Kuwait, Qatar and Saudi Arabia – conclude ten days of meetings with Western oil companies. An agreement is reached to raise the posted price of crude by 8.49 percent to offset the loss in value of oil concessions attributable to the decline in value of the U.S. dollar.
Oil extended gains as ... rose nearly 3% to settle at $78.82 per barrel, the highest ... Click here for in-depth analysis of the latest stock market news and events moving stock prices.
The bank said oil prices could go as high as $120 per barrel in the first quarter of 2025, implying a 62% increase. ... CBS News. The best and worst Super Bowl commercials of 2025. Food. Food ...
Oil finished the first full week of September at a nine-month high. Brent ended September 8 at $90.65, highest since November, with WTI at $87.51. [32] WTI reached $95.03, highest since August 2022, and Brent peaked at $97.69, highest since August 2022, due to low supplies, before falling due to profit taking on September 28. [33]