With oil prices reaching five year lows, Business intelligence explores some facts and figures about current oil trends.

  1. Oil prices have dropped by around 30% in 2014.
  2. The price of Brent Crude reached a five year low of $67.53 per barrel (2nd November 2014).
  3. OPECs decision to maintain current oil output has been a large contributing factor to the decline.
  4. OPEC has announced it will keep to its promised quota of 30 million barrels per day.
  5. The US produces nine million barrels per day.
  6. The International Monetary Fund states that a 30% decline in oil prices could translate into a 0.8% growth for most advanced economies.
  7. The average price for consumers for gasoline over the thanksgiving weekend was approximately $2.80, the lowest price in four years.