Concept

World oil market chronology from 2003

From the mid-1980s to September 2003, the inflation adjusted price of a barrel of crude oil on NYMEX was generally under 25/barrel.Then,during2004,thepriceroseabove25/barrel. Then, during 2004, the price rose above 40, and then 60.Aseriesofeventsledthepricetoexceed60. A series of events led the price to exceed 60 by August 11, 2005, leading to a record-speed hike that reached 75bythemiddleof2006.Pricesthendroppedbackto75 by the middle of 2006. Prices then dropped back to 60/barrel by the early part of 2007 before rising steeply again to 92/barrelbyOctober2007,and92/barrel by October 2007, and 99.29/barrel for December futures in New York on November 21, 2007. Throughout the first half of 2008, oil regularly reached record high prices. Prices on June 27, 2008, touched 141.71/barrel,forAugustdeliveryintheNewYorkMercantileExchange,amidLibyasthreattocutoutput,andOPECspresidentpredictedpricesmayreach141.71/barrel, for August delivery in the New York Mercantile Exchange, amid Libya's threat to cut output, and OPEC's president predicted prices may reach 170 by the Northern summer. The highest recorded price per barrel maximum of 147.02wasreachedonJuly11,2008.Afterfallingbelow147.02 was reached on July 11, 2008. After falling below 100 in the late summer of 2008, prices rose again in late September. On September 22, oil rose over 25to25 to 130 before settling again to 120.92,markingarecordonedaygainof120.92, marking a record one-day gain of 16.37. Electronic crude oil trading was temporarily halted by NYMEX when the daily price rise limit of 10wasreached,butthelimitwasresetsecondslaterandtradingresumed.ByOctober16,priceshadfallenagaintobelow10 was reached, but the limit was reset seconds later and trading resumed. By October 16, prices had fallen again to below 70, and on November 6 oil closed below 60.Thenin2009,priceswentslightlyhigher,althoughnottotheextentofthe20052007crisis,exceeding60. Then in 2009, prices went slightly higher, although not to the extent of the 2005–2007 crisis, exceeding 100 in 2011 and most of 2012. Since late 2013 the oil price has fallen below the 100mark,plummetingbelowthe100 mark, plummeting below the 50 mark one year later. As the price of producing petroleum did not rise significantly, the price increases have coincided with a period of record profits for the oil industry. Between 2004 and 2007, the profits of the six supermajors – ExxonMobil, Total, Shell, BP, Chevron, and ConocoPhillips – totaled $494.8 billion. Likewise, major oil-dependent countries such as Saudi Arabia, the United Arab Emirates, Canada, Russia, Venezuela and Nigeria have benefited economically from surging oil prices during the 2000s.

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Oil and gas reserves and resource quantification
Oil and gas reserves denote discovered quantities of crude oil and natural gas (oil or gas fields) that can be profitably produced/recovered from an approved development. Oil and gas reserves tied to approved operational plans filed on the day of reserves reporting are also sensitive to fluctuating global market pricing. The remaining resource estimates (after the reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established.
Marché pétrolier
vignette|Prix du pétrole en dollars de 1861 à 2015 (1861-1944 : brut américain moyen, 1945-1983 : brut « Arabian Light », 1984-2015 : Brent). Courbe rouge : prix corrigés de l'inflation ; bleue : prix non actualisés. Le marché pétrolier est le lieu où se rencontrent l'offre et la demande de pétrole et de produits pétroliers. C'est sur ce marché que se forment le prix du baril de pétrole brut et ceux de ses divers dérivés. Le prix du baril dépend de son degré, déterminé par des facteurs tels que sa densité API ou sa quantité de sulfure, de sa localisation et du jeu de l'offre et de la demande.
BP (entreprise)
La société BP est une compagnie britannique de recherche, d'extraction, de raffinage et de vente de pétrole fondée en 1909. Anciennement nommée Anglo-Persian Oil Company (APOC-1909), puis Anglo-Iranian Oil Company (AIOC-1935), puis British Petroleum Company (BP-1954), puis BPAmoco (2001), avant d'être renommée BP. Après sa fusion avec Amoco, Atlantic Richfield (Arco) et Burmah Castrol, elle est devenue la plus grande société du Royaume-Uni et la troisième compagnie pétrolière mondiale.
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