Q:

Where can you find the oil price per barrel?

A:

Quick Answer

Many financial and stock market websites list current and historical prices of oil, including Money.CNN.com, Nasdaq.com and Finance.Yahoo.com. These websites generally list the price of oil directly on their main pages along with other major stocks, indexes and commodities.

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Full Answer

During the second half of 2014, oil prices fell considerably after a number of factors increased supply without a corresponding increase in demand, explains Bloomberg. In the United States oil output greatly increased following technological advancements, such as hydraulic fracturing. In the Middle East political unrest did not interrupt supply as expected, and OPEC decided not to reduce production. At the same time, economic growth in Europe and Asia remained stagnant, leading to excess supply and forcing producers to sell at a lower price.

As of April 2015, prices are rising slowly due to decreased oil production in the United States, as reported by the New York Times. However, supply remains hard to predict. Royal Dutch Shell expects oil prices to eventually rise to $90 per barrel, and demand for oil is rising in Asia and Europe. However, rising demand may only be the temporary result of lower oil prices. In addition, international sanctions that have significantly reduced Iran's oil exports may be lifted if a nuclear accord is finalized.

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