What was the price of a barrel of oil in 2015?
Crude oil prices ended 2015 below $40 per barrel (b), the lowest level since early 2009. Spot prices for the international crude oil benchmark Brent averaged $52/b in 2015, 53% below the level in 2014 and 49% below the average price over 2010-14.
How much did a barrel of oil cost today?
| WTI Crude | SellBuy | 72.94 |
|---|---|---|
| Brent Crude | SellBuy | 74.38 |
| Natural Gas | SellBuy | 3.688 |
| Heating Oil | SellBuy | 2.120 |
| Gasoline •2 days | 2.255 |
What is the value of 1 barrel?
When used to denote a volume, one barrel is exactly 42 US gallons and is easily converted to any other unit of volume. As the US gallon since 1893 is defined as 3.785411784 litre, a volume of one barrel is exactly 158.987294928 litres. Using the approximate value 159 litre is about 0.008% off.
How much is a barrel of fuel?
Recently, that price has ranged between $50 and $70 per barrel, depending on the type of crude oil purchased. With crude oil at these prices, a standard 42 gallon barrel translates to $1.19 to $1.67 per gallon at the pump. Excise taxes add another 49 cents a gallon on average nationwide.
Why is the oil price so low 2020?
Factors Leading to the 2020 Oil Price Drop The COVID-19 pandemic triggered an unprecedented demand shock in the oil industry, leading to a historic market collapse in oil prices. Demand for oil cratered as governments around the world shuttered businesses, issued stay-at-home mandates, and restricted travel.
What was the lowest price of oil 2020?
On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel.
What is the lowest oil has ever been?
Oil hit $0.01 a barrel before falling to as low as negative $40 and eventually settling at negative $37.63, the lowest level recorded since the New York Mercantile Exchange began trading oil futures in 1983.