Consumption, oil, oil prices, Saudi Arabia

World Oil Markets and Oil Prices

By Institute for Energy Research —— Bio and Archives--November 3, 2014

Global Warming-Energy-Environment | Comments | Back To Full Article

There have been many ups and downs in the oil market over the last decade causing oil prices to either escalate or drop precipitously. Of particular note is the oil price drop in 2008 from a price of $146 per barrel to $35 per barrel in just 6 months [1]—a price decline of over 75 percent. The current price decline—one that caught forecasters by surprise– is much less—closer to 25 percent—but has ramifications throughout the oil producing and consuming world.

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