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- W2071378574 abstract "The price of crude oil is among the most important prices quoted daily across the world — which is not surprising, since crude oil is the most widely used source of energy worldwide, as well as being a unique commodity.When petroleum burst onto the world stage in 1859, its price first went through some initial gyrations (1860–70), before settling in the $1.00–2.00 per barrel range (barring a few exceptions) for a full century.Then, the price underwent two ‘shocks’ (1973 and 1980), followed by the ‘counter-shock’ of 1986. Thereafter, the price entered the relative stability of the $15–20/b concensus, where it lingered until recently.Some day, there is bound to be a fresh paradigm of ‘insufficient oil reserves’, thus ushering in a new era for oil prices. Taking into consideration available data on reserves and expert analysis, it would seem that that day may be years rather than decades away." @default.
- W2071378574 created "2016-06-24" @default.
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- W2071378574 date "1999-03-01" @default.
- W2071378574 modified "2023-09-26" @default.
- W2071378574 title "The Price of Crude Oil" @default.
- W2071378574 doi "https://doi.org/10.1111/1468-0076.00055" @default.
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