The cost of a barrel of oil marker varietieshas a significant impact on the economy of leading states and can be used as a political tool. The decline in prices had a negative impact on the economy of the Soviet Union, playing one of the decisive roles in the political crisis that took place in the late 1980s and provoked the collapse of the USSR. The fluctuations in the cost of a resource affect the state of the budget of modern Russia, the economy as a whole and the price of another important element of Russian exports - natural gas.
The cost of oil is often compared with indicators2008, when the global economic crisis caused a collapse in prices. At the same time, the historical maximum of value was fixed. How much did oil cost in 2008? The minimum value of the resource reached the next day after the Catholic Christmas, while the maximum price was fixed a few months earlier - on the fourth of July.
The dynamics of oil prices is an indicator reflecting themany events in the political arena and influencing the world's leading economies. But before tracing fluctuations in the cost of a resource, it is worthwhile to sort out the types of prices, the cost price, the order of final value formation.
To simplify the process of trading, it is customaryuse several reference (marker or standard) grades of oil. The cost of most varieties of the resource directly or indirectly depends on market prices, formed on the following basic varieties:
The volumes of production of these types of oil are small in a comparative ratio, but determine the cost of most supplies of other brands.
The dynamics of oil prices take into account the finalthe cost of the resource, which consists of the markup and cost - the total monetary expression of the costs incurred by the company in the extraction of oil. The cost price consists of such components:
The cost price of oil production is estimated on averagetwenty-nine dollars a barrel. How much did oil cost in 2008? With a minimal drop in the cost of the resource, the oil companies earned only $ 4 per barrel, while at the peak of the prices, the profit reached 100 dollars or more.
Final oil prices (table forcomparison or graph, as a rule, and displays the final value) are formed under the influence of several factors. The current political and economic situation is taken into account, but the ratio of supply and demand remains the fundamental factor that determines the cost by 80-85%. Such a conclusion in the scientific work titled "Investigation of the peculiarities of the formation of oil prices ..." was done at INEI of the Russian Academy of Sciences.
So, let's consider what the price of oil wason years. The graph will help to demonstrate the situation clearly. Data are given starting from the second half of the nineteenth century and until 2011. On the chart, by the way, the price of oil in 2008 is clearly visible - the drop easily differs.
The blue line shows the cost of the resource indollars of the United States of America, the orange curve reflects the level of prices in dollars in 2015. Data prior to 1945 relate to the cost of oil in the US, until 1885 the Arabian Light brand was introduced, and afterwards - today's benchmark, Brent resource.
The dynamics of prices, which was stipulated by worldexperts, begins with the 2000s, when the cost of oil increased due to the war in Iraq, increased demand, reduced production by Indonesia, Britain and Mexico, as well as depletion of reserves in the Gulf countries. The volatility of the situation in the Middle East caused oil prices to rise by ten dollars a day on June 6, 2008. By July 4, the value of the product reached almost $ 144 per barrel (143.95).
How much did oil cost in 2008?The cost of the resource by December 26, 2008 reached almost thirty-four dollars per barrel. The low price of oil in 2008 lasted relatively short: since the summer of 2009, the value began to increase again.
After the exit from the global financial crisis (to2010), the level of oil prices stabilized. At that time, the price of the barrel was about seventy to eighty dollars. Growth was resumed because of the political crisis in Libya and the fire at the refinery in the US, then the price began to fall due to problems in the European Union.
In 2014, the price of Brent fell belowNinety dollars per barrel. The demand for fuel fell, and at the same time an excessive supply arose. By early January 2015, the cost of oil has fallen significantly. The minimum reached $ 45.13 per barrel on the 13th of January. How much did oil cost in 2008 and 2015? This is quite comparable indicators. And the factors that caused the decline in prices are comparable - in both cases, the global economic situation had a decisive influence.
A month after the fall in 2015the cost of oil stabilized, but not for long. Quotations rushed down in the summer of 2016 due to the collapse of the Chinese stock market and the announcement of Iran's plans to increase oil exports after the lifting of sanctions. There was also news that the United States was soon going to put into operation new production capacities.
