From the mid-1980s to September 2003, the inflation adjusted price of a barrel of crude oil on the New York Mercantile Exchange (NYMC) was under $25/barrel.
Saudi Arabia, the world’s largest crude exporter, cut pricing for March oil sales to Asia, signaling that they are continuing to fight for market share. State-owned Saudi Arabian Oil Co. (Saudi Aramco) lowered its official selling price for Arab Light crude by 90 cents to $2.30 a barrel less than
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