How much was a barrel of oil in 2008?

How much was a barrel of oil in 2008?

Annual Average Domestic Crude Oil Prices

Annual Average Domestic Crude Oil Prices (in $/Barrel)
2008 $91.48 $115.86
2009 $53.48 $68.07
2010 $71.21 $89.33

How much did oil cost in 2008?

Crude Oil Prices – 70 Year Historical Chart

Crude Oil Prices – Historical Annual Data
Year Average Closing Price Year High
2008 $99.67 $145.31
2007 $72.34 $99.16
2006 $66.05 $77.05

How much did US oil import prices change from 2009 to 2011?

Price trends leading up to the summer of 2014 Prior to 2012, petroleum prices rose sharply, increasing 180.1 percent between February 2009 and April 2011.

What is the lowest price of oil in history?

On 23 December 2008, WTI crude oil spot price fell to US$30.28 a barrel, the lowest since the financial crisis of 2007–2008 began.

Is it more expensive to import oil?

The price of all oil rises, including that which the USA imports and that which it produces domestically. An oil import tariff increases costs to US industry and consumers and reduces the competitiveness of US exports.

What is America’s reliance on oil?

Energy independence is highly concerned with oil, the source of the country’s principal transport fuels. In total energy consumption, the US was between 86% and 91% self-sufficient in 2016. In May 2011, the country became a net exporter of refined petroleum products.

What was the price of crude oil in 2008?

Historically, Crude oil reached an all time high of 147.27 in July of 2008. Crude oil – data, forecasts, historical chart – was last updated on December of 2020. Crude oil is expected to trade at 43.99 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

What was the price of crude oil in February?

Monthly Average Domestic Crude Oil Prices Year Nominal Price Inflation-Adjusted Price (As of February Jan-11 $84.47 $100.88 Feb-11 $81.32 $96.64 Mar-11 $94.72 $111.48

What’s the current price of a barrel of oil?

Crude oil declined 2% to below $72 per barrel on Thursday, the lowest since June 18th on oversupply concerns. Saudi Arabia and the UAE reportedly have reached a compromise on oil policy, allowing UAE to increase its baseline production to 3.65 million bpd.

What was the price of oil in 1979?

Oil Prices by Year: Average, High, Low, and Events Year Average Low High Causes 1979 $21.57 $15.50 $28.91 Iran-Iraq War, fed rate 20% 1980 $33.86 $30.75 $35.63 Iran oil embargo 1981 $37.10 $35.43 $39.00 Reagan cut taxes 1982 $33.57 $32.78 $35.54 Recession ends inflation