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How much did a barrel of oil cost in 2008?

Published in Oil Prices 1 min read

In 2008, a barrel of oil reached a high point of $99.67.

Understanding Oil Price Trends

The price of crude oil has seen significant fluctuations over the decades. During the 1990s, the cost per barrel remained relatively stable, typically hovering near $20.

However, after the turn of the century, oil prices began to increase noticeably. This upward trend culminated in a peak in 2008.

Key Price Points

Here's a snapshot of the oil price in 2008 within a broader historical context:

Period Price per Barrel (Approx.)
1990s Near $20
Early 2000s Increasing trend
2008 (High Point) $99.67

Since reaching this high point in 2008, the price per barrel has continued to fluctuate, though often at levels higher than those seen in the 1990s. These changes are influenced by various global economic, geopolitical, and supply-demand factors.