What is the Average Price of Oil per Barrel Today? Cost of Oil Prior to 9/11

The average price of a barrel of crude oil this year is $69.90. Prior to September 11th, 2001, oil cost $23 per barrel. This pricing difference has been attributed to the increasing difficulty to obtain oil from the Middle Eastern region, as well as the increasing shortage of oil supply throughout the world. Some sources have blamed this pricing difference upon politics and economic manipulation.

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