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Crude oil prices spiked last week amid fears the Israel-Hamas war could broaden to other countries — namely Iran — a key global oil producer.. Despite last week's gains, prices are still ...
In the near term, as far as the demand for crude oil markets, it’s been a little different. Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of ...
Oil markets spiraled on the news, falling as much as 4% on Thursday. A report that Saudi Arabia would ditch its unofficial crude price target sent crude oil prices sharply lower on Thursday ...
Crude was recently under $70 a barrel, well below the nearly $80 average it captured during the second quarter. Now the company's earnings and cash flow are likely to decline in the second half of ...
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 $129 per barrel in 2023 dollars, when adjusted for inflation); it fell in 1986 from $27 to below $10 ($75 to $28 in 2023 dollars).
Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring prices.
On Tuesday oil alliance OPEC maintained its prior forecast for global oil demand to grow by 2.2 million barrels per day in 2024. In March OPEC+ extended output cuts of 2.2 million per day into the ...
September 20 – A contractor's digging equipment hit & ruptured a crude oil gathering pipeline in Williams County, North Dakota, spilling about 8,400 gallons of crude oil. [30] December 7 – The Keystone Pipeline leaked about 588,000 gallons of tar sands crude into a creek, in Washington County, Kansas. This is the biggest oil spill in ...