Crude Oil Historical Price Charts From 1983 to 2001

Looking at the crude oil historical price charts, it was observed that the price of crude oil fluctuates like most other products.

The amount of supply, shortage, and demand will change the price accordingly. For the most part, crude oil prices are controlled by the production or price controls. The Organization of Petroleum Exporting Countries or OPEC placed a price band on crude oil due to the Middle East Conflict.

The band of $22 – $28 per barrel amount was discarded in 2005 because of the limited production and this resulted in the organization’s inability to control the rise in oil prices. Suddenly, there was no control on price per barrel.

10-year Cycle

Crude oil futures historical price charts will demonstrate how oil prices have fluctuated from $10 to $147 in the past ten years. The fluctuation could be the result of decreasing demand for diesel or an increase in light sweet crude supply as well as other possibilities like the aggressive limitations on inventory and energy policies. Unsettling tension between countries also affects oil prices.

The low prices are typically results of deceleration in global economic activity or aggressive economic regulations. When demand is low, so is the price for that product. High prices can be the result of political disruption during these times of war or if the producing and consuming countries place a higher price on the oil.

Stable Crude Oil Futures Price Expected

It is expected that the crude oil price trend will not fluctuate as much during the next ten years as they have during the past decade. An unsteady economy, impending war, and aggressive regulations caused a roller coaster of oil prices in the last ten years, but some stability is expected.

Start of Decade

The decade started with a thriving U.S. economy and little issues otherwise. The price of crude oil was rising due to OPEC quota increases and Russian production increases, but toward the end of the year 2000, the price was slowing decreasing. Then in 2001 the U.S. economy began to weaken, and after the terrorist attack the prices decreased by 35%. These events were followed by reduced oil productions.

By 2003 the U.S. economy was stabilizing and demand was increasing. Asia was growing and demanding more crude oil as well. By this point Venezuela production was regaining itself after a strike in production. Although everything was improving, there was little to no excess oil because of these unpredicted setbacks. The little reserve resulted in increased prices.

Studying Crude Oil Historical Price Charts

Review the crude oil price chart from the past decades to gain a visual understanding of how dramatic the changes have been. Although there is drastic change over the past few years, forecasts determine that the crude oil futures price trend will be more stabilized during the next few years.

$147 Crude Oil

In 2008, The United States experienced a record high price for crude oil, $147. The result of the growing tension between the West and Iran caused many to worry about supply. Instabilities in the economy or in the world can result in changes to the price of oil.

How To Trade Oil Price

Oil can be traded through crude oil futures trading. Oil is a commodity that is often traded in different ways, but futures trading is the easiest and most direct way to conduct the trade of crude oil. Futures trading is a contract where the buyer is agreeing to purchase a certain amount of crude oil for the predetermined price on a future date. If the price of crude oil increases, then a profit is made.

A crude oil future trading contract requires 5% deposit and can be traded 24 hours a day. There is no designated time or waiting period when trading with crude oil futures trading contracts. Learn the margin and deposit requirements to decide how much to trade and when to do it.

Once the amount has been decided, purchases can be made either through a brokerage or online.

Here are historical crude oil price charts from 1983 to 2001, a 19-year period:

Year 1983

Year 1984

Year 1985

Year 1986

Year 1987

Year 1988

Year 1989

Year 1990

Year 1991

Year 1992

Year 1993

Year 1994

Year 1995

Year 1996

Year 1997

Year 1998

Year 1999

Year 2000

Year 2001