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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 ...
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The 1980s oil glut was a significant surplus of crude oil caused by falling demand following the 1970s energy crisis.The world price of oil had peaked in 1980 at over US$35 per barrel (equivalent to $134 per barrel in 2024 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($77 to $29 in 2024 dollars).
Oil prices will fall to an average of $65 per barrel in 2025 amid an oversupply of ... of $80 per barrel this year to $73 per barrel in 2025 and $61 in 2026. ... of the latest stock market news ...
On April 18, 2008, the price of oil broke $117 per barrel after a Nigerian militant group claimed an attack on an oil pipeline. [30] Oil prices rose to a new high of $119.90 a barrel on April 22, 2008, [ 31 ] before dipping and then rising $3 on April 25, 2008, to $119.10 on the New York Mercantile Exchange after a news report that a ship ...
US oil prices topped $94 a barrel on Wednesday for the first time in over a year, threatening to push up prices at the pump and inflation across the economy.
Oil extended gains as markets priced the supply ... rose nearly 3% to settle at $78.82 per barrel, the highest level ... Click here for in-depth analysis of the latest stock market news and events ...