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...

Flags of Russia (left) and Saudi Arabia (right) On 8 March 2020, Saudi Arabia initiated a price war on oil with Russia, which facilitated a 65% quarterly...

embargo, but the price of oil had risen by nearly 300%: from US$3 per barrel ($19/m3) to nearly US$12 per barrel ($75/m3) globally. Prices in the United...

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...

inflation-adjusted price of a barrel of crude oil on NYMEX was generally under US$25/barrel in 2008 dollars. During 2003, the price rose above $30, reached...

Petroleum or crude oil, also referred to as simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in...

The 1990 oil price shock occurred in response to the Iraqi invasion of Kuwait on August 2, 1990, Saddam Hussein's second invasion of a fellow OPEC member...

adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. Then, during 2004, the price rose above $40, and then $60. A series of events...

dominant Anglo-American oil firms (the "Seven Sisters"). In the 1970s, restrictions in oil production led to a dramatic rise in oil prices with long-lasting...

currencies when the price of oil rises (and fall when it falls). Pricing of oil in US dollars: currencies used as a unit of account to price oil in the international...

is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage...

as of January 2015, the price of oil has decreased to around $50 per barrel. As of September 2021, the price per barrel of crude oil was $69.06. Oil futures...

depletion of known reserves, though more recently a new competing theory has emerged – that reductions in oil demand may reduce the price of oil relative...

posted price of oil was the price at which oil companies offered to purchase oil from oil-producing governments. This price was set by the oil companies...

United States. Oil sands productions expand and prosper as the global price of oil increased to peak highs because of the Arab oil embargo of 1973, the 1979...

substantial petroleum shortages as well as elevated prices. The two worst crises of this period were the 1973 oil crisis and the 1979 energy crisis, when, respectively...

daughter corporations of John D. Rockefeller's original Standard Oil monopoly. In 1959, the Seven Sisters reduced the price of oil for Venezuela and Middle...

liked the lower prices. Standard Oil, being formed well before the discovery of the Spindletop oil field (in Texas, far from Standard Oil's base in the Midwest)...

1973 oil crisis, the first worldwide oil crisis, in which prices increased 400% 1979 oil crisis, in which prices increased 100% 1990 oil price shock...

in large part because during falls in the price of oil and gas, a well may be unproductive, but if prices rise, even low-production wells may be economically...

or the commodities super cycle was the rise of many physical commodity prices (such as those of food, oil, metals, chemicals and fuels) during the early...

increasing share of energy consumption away from fossil fuels. The world price of oil was above US$125 per barrel ($790/m3) in 2012, and remained relatively...

following the two oil crises of the 1970s, the NEP had three main objectives: increase ownership of the oil industry by Canadians; price energy fairly for...

significant impact on the price of oil—both in the state of California and across America. In 1860, 0.5 million barrels of oil were produced throughout...

Petroleum Classification Light crude oil Sour crude oil Mazut List of crude oil products Oil price increases since 2003 "Oil markets explained". BBC News. 'Sweet'...

An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers:...

colloquially, Brent Crude usually refers to the price of the ICE (Intercontinental Exchange) Brent Crude Oil futures contract or the contract itself. The...

benchmark crude or marker crude is a crude oil that serves as a reference price for buyers and sellers of crude oil. There are three primary benchmarks, West...

during periods when the price of oil is historically high. The term petrodollar was coined in the early 1970s during the oil crisis, and the first major...

the oil companies were exploiting them.[citation needed] Led by Venezuela, oil-producing countries realized that they could control the price of oil by...