Oil prices coming in line with their historic levels during the past 41 years

As companies, analysts and others look at oil prices stabilizing in the $45-$50 range for U.S. crude oil benchmark WTI as a post-Thanksgiving 2014 “new normal,” Oil & Gas 360® along with EnerCom Analytics took a historic look at the price of oil and found the new normal may not be new at all.

Looking at oil prices back to the first quarter of 1974 forward to Q2’2015, EnerCom found that the average nominal price for U.S. crude oil over the 41-year span was ...

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