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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 $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 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 ...
California in-state electricity generation by source 2001-2020 (ignores imports which made up 32% of demand in 2018, but varies by year) - 2012 is when San Onofre Nuclear Generating Station shutdown; 2017 & 2019 were high rainfall years California electricity production by type showing seasonal variation in generation
An oil industry-backed group is running TV and digital ads saying more drilling is the answer to California’s high gas prices.
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The plan marks a continuation of the governor's campaign to blame the oil industry for high gas prices in California and another attempt by Newsom to jam legislation through the state Capitol.
Also, the U.S. oil and gas rig count was the highest since April 2020. [69] Four weeks of losses happened for the first time since March 2020. On November 19, with news of a COVID lockdown in Austria and the possibility of more lockdowns in Europe, WTI fell over 4 percent to $75.37, lowest since October 7. Brent reached $78.15 for the first ...
The decision by Phillips 66 this week to shutter its refinery in Wilmington next year will wipe out more than 8% of the state's crude oil processing capacity.