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Oil fell the most for any month in ten years. WTI finished at $50.93, up 1% for the week but down 22% for the month, while Brent was $58.71, down 12% for the year. Higher production in the U.S., Russia and some OPEC countries meant too much supply. Losses would have been higher except for speculation about OPEC cuts. [97]
Indications of a world oil glut lead to a rapid decline in world oil prices early in 1982. OPEC appears to lose control over world oil prices. March: Damascus closes Iraq's 400,000 bbl/d (64,000 m 3 /d) trans-Syrian oil export pipeline to show support for Iran. March 11: U.S. boycotts Libyan crude. May 24:Iran recaptures Khorramshahr.
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 ...
NEW YORK/LONDON (Reuters) -Oil prices rose more than 1% on Tuesday, reversing the prior session's losses on a brightening short-term outlook tied to the prospect of slightly tightening supplies as ...
Oil futures dropped as much as 2% on Wednesday before paring losses as traders weighed what Donald Trump's presidential victory could mean for energy prices.
1999 world oil market chronology; 2000 world oil market chronology; 2001 world oil market chronology; 2002 world oil market chronology; 2003 world oil market chronology; 2004 world oil market chronology; 2011–2013 world oil market chronology; 2020–2022 world oil market chronology; 2014–2016 world oil market chronology; 2017–2019 world ...
Oil prices could soar more than 60% by early next year if conflict in the Middle East continues to escalate, according to Citi. ... The bank said oil prices could go as high as $120 per barrel in ...
On January 6, 2016, the price of WTI crude hit another eleven-year low, as it dropped to 32.53 a barrel for the first time since 2009. [85] On January 12, in its seventh losing day, crude oil dropped below $30 for the first time since December 2003, ending the day at $30.44, as gas fell below $1.97. [86]