Oil Prices Today |
| The current price of oil is “abnormal” according to OPEC president Posted: 31 Dec 2011 04:04 PM PST The current oil prices above $ 120 a barrel are “abnormal” and could fall to around $ 78 in the right circumstances, said Tuesday the president of the Organization of Petroleum Exporting Countries (OPEC), Chakib Khelil. “There is a market equilibrium. I would say that stocks are at a good level and that there has [...] |
| Oil Price/Barrel Collapse: Price-Driven Conservation Posted: 31 Dec 2011 04:04 AM PST Oil Price/Barrel Collapse: Price-Driven Conservation Oil prices are monthly average import prices at the refinery. Notice that the first OPEC crisis, cut oil imports in half. The economy responds to price dramatically, but it takes about 5 years to really get going and 10 for near full effect. Prices in Feb. 2009 dollars. Source: http://zfacts.com |
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