29+ Oil Barrel Price History Background. Typically illinois crude is a couple of dollars cheaper per barrel than west texas intermediate (wti) because it requires a bit more refining. Problem with saudi energy minister and the people is that they said so many times they can be flexible, will do anything to keep prices higher but it isn't helping so they should've lost alot of credibility.

Api Supply And Downward Pressure On Crude Prices from www.api.org

Oil benchmark fell more than $50 a barrel to end the day about $30 below zero, the first time oil prices have ever turned negative. The june contract also fell, although by a far smaller. The price of oil shown is adjusted for inflation using the headline cpi and is shown by default on a logarithmic scale.

Problem with saudi energy minister and the people is that they said so many times they can be flexible, will do anything to keep prices higher but it isn't helping so they should've lost alot of credibility.

Dollars per barrel in 2020, following reduced oil demand as a result of the coronavirus pandemic. 50 years of price turmoil. While oil prices staged a modest rebound following the collapse, it's unclear whether the gains are sustainable. Click here to jump to the top of this document.