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About: World oil market chronology from 2003     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Timeline106504965, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:WikicatOilMarketTimelinesyago:Abstraction100002137yago:Chronology106503224yago:Communication100033020yago:Evidence106643408yago:Indication106797169yago:Record106647206yago:WrittenRecord106502378albumyago:Timeline106504965 New Facet based on Instances of this Class

From the mid-1980s to September 2003, the inflation 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 led the price to exceed $60 by August 11, 2005, leading to a record-speed hike that reached $75 by the middle of 2006. Prices then dropped back to $60/barrel by the early part of 2007 before rising steeply again to $92/barrel by October 2007, and $99.29/barrel for December futures in New York on November 21, 2007. Throughout the first half of 2008, oil regularly reached record high prices. Prices on June 27, 2008, touched $141.71/barrel, for August delivery in the New York Mercantile Exchange, amid Libya's threat to cut output, and OPEC's president predicted prices may reach $170 by