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The Geopolitics Of Cheap Oil

Acetylene Equipment

In 2008, for instance, oil hit a excessive of $145 a barrel. However that didn’t last long. And in 2015, despite all types of turmoil within the Center East and in other oil-producing nations like Nigeria, the price of oil refineries in india recruitment crude fell between 30 and 40 p.c to its lowest levels in eleven years. That’s a much bigger drop than the commodity worth declines for metals, grains, and soybeans. Gas stations across the United States didn’t totally mirror this drop, however petrol prices still oil refineries in india recruitment fell to an average of $2.Forty a gallon, saving every driver greater than $500 final yr.