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Oil Price: The Top 25 Events That Rocked The Cost Of Crude Oil

Contributor: Sumit Dutta
Posted: 01/01/2015
Oil Price: The Top 25 Events That Rocked The Cost Of Crude Oil
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The oil price has dropped to record lows over the past 12 months but this is a not a new phenomenon. Indeed numerous events through the ages have acted as turning points in the rise and fall of oil prices.

In the interactive timeline below we highlight twenty-five of the most influential milestones that have impacted the cost of the most precious and contentious commodity on earth. Starting at the dawn of the US Civil War we track through to modern day and question whether history is fated to repeat itself.

PEAKS & LOWS: A HISTORY OF WTI CRUDE OIL PRICES SINCE 1861

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THE TOP 25 EVENTS THAT ROCKED THE PRICE OF CRUDE OIL

Scroll left and right to find out what events impacted the oil price in this interactive Oil & Gas IQ timeline



OIL: CRUDE OIL PRICES 1861 - 2014

Below you will find a complete history of the oil prices over the past 150 years. Listed are the unadjusted original prices as well as the prices adjusted for inflation to 2014. Products tracked: 1861-1944 US Average. 1945-1983 Arabian Light posted at Ras Tanura. 1984-2014 Brent dated.

Year $ Unadjusted
$ Adjusted
Year $ Unadjusted
$ Adjusted
1861 0.49 12.86 1938 1.13 18.97 1862 1.05 24.80 1939 1.02 17.37 1863 3.15 60.32 1940 1.02 17.21 1864 8.06 121.50 1941 1.14 18.32 1865 6.59 101.50 1942 1.19 17.27 1866 3.74 60.22 1943 1.20 16.42 1867 2.41 40.66 1944 1.21 16.27 1868 3.63 64.30 1945 1.05 13.80 1869 3.64 64.48 1946 1.12 13.56 1870 3.86 71.97 1947 1.90 20.12 1871 4.34 85.42 1948 1.99 19.56 1872 3.64 71.64 1949 1.78 17.67 1873 1.83 36.02 1950 1.71 16.80 1874 1.17 24.38 1951 1.71 15.57 1875 1.35 28.98 1952 1.71 15.24 1876 2.56 56.68 1953 1.93 17.07 1877 2.42 53.58 1954 1.93 16.98 1878 1.19 29.07 1955 1.93 17.05 1879 0.86 21.76 1956 1.93 16.80 1880 0.95 23.21 1957 1.90 15.96 1881 0.86 21.01 1958 2.08 17.02 1882 0.78 19.06 1959 2.08 16.87 1883 1.00 25.30 1960 1.90 15.17 1884 0.84 22.04 1961 1.80 14.23 1885 0.88 23.09 1962 1.80 14.08 1886 0.71 18.63 1963 1.80 13.91 1887 0.67 17.58 1964 1.80 13.72 1888 0.88 23.09 1965 1.80 13.49 1889 0.94 24.67 1966 1.80 13.12 1890 0.87 22.83 1967 1.80 12.75 1891 0.67 17.58 1968 1.80 12.24 1892 0.56 14.70 1969 1.80 11.62 1893 0.64 16.79 1970 1.80 10.97 1894 0.84 22.89 1971 2.24 13.08 1895 1.36 38.54 1972 2.48 14.04 1896 1.18 33.44 1973 3.29 17.53 1897 0.79 22.39 1974 11.58 55.62 1898 0.91 25.79 1975 11.53 50.74 1899 1.29 36.56 1976 12.80 53.24 1900 1.19 33.73 1977 13.92 54.34 1901 0.96 27.21 1978 14.02 50.91 1902 0.80 21.80 1979 31.61 103.07 1903 0.94 24.67 1980 36.83 105.81 1904 0.86 22.57 1981 35.93 93.57 1905 0.62 16.27 1982 32.97 80.88 1906 0.73 19.16 1983 29.55 70.24 1907 0.72 18.22 1984 28.78 65.58 1908 0.72 18.89 1985 27.56 60.64 1909 0.70 18.37 1986 14.43 31.17 1910 0.61 15.44 1987 18.44 38.42 1911 0.61 15.44 1988 14.92 29.86 1912 0.74 18.08 1989 18.23 34.80 1913 0.95 22.66 1990 23.73 42.97 1914 0.81 19.06 1991 20.00 34.77 1915 0.64 14.91 1992 19.32 32.60 1916 1.10 23.83 1993 16.97 27.80 1917 1.56 28.78 1994 15.82 25.27 1918 1.98 31.10 1995 17.02 26.43 1919 2.01 27.50 1996 20.67 31.19 1920 3.07 36.26 1997 19.09 28.16 1921 1.73 22.87 1998 12.72 18.47 1922 1.61 22.72 1999 17.97 25.54 1923 1.34 18.58 2000 28.50 39.17 1924 1.43 19.79 2001 24.44 32.68 1925 1.68 22.67 2002 25.02 32.93 1926 1.88 25.13 2003 28.83 37.09 1927 1.30 17.71 2004 38.27 47.96 1928 1.17 16.16 2005 54.52 66.09 1929 1.27 17.54 2006 65.14 76.50 1930 1.19 16.86 2007 72.39 82.65 1931 0.65 10.10 2008 97.26 106.94 1932 0.87 15.07 2009 61.67 68.05 1933 0.67 12.23 2010 79.50 86.31 1934 1.00 17.67 2011 111.26 117.09 1935 0.97 16.72 2012 111.67 115.14 1936 1.09 18.61 2013 108.66 110.42 1937 1.18 19.45 2014 98.95 98.95

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Sumit Dutta heads up Marketing at Oil & Gas IQ. Contact him at Twitter or Google Plus


Thank you, for your interest in Oil Price: The Top 25 Events That Rocked The Cost Of Crude Oil.
Sumit Dutta
Contributor: Sumit Dutta