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...

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...

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 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...

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...

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

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...

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...