Home BlogData Visualization Visualizing Plummeting Oil Prices

Visualizing Plummeting Oil Prices

by Michael McLaughlin
A chart showing that the price of oil has plummeted in March.

Reuters has created a series of data visualizations highlighting the plummeting price of oil due to a price war between Russia and Saudia Arabia and lower demand due to coronavirus. The visualizations show that the supply of oil far outstrips the demand for it and that the price per barrel for one type of crude oil has dropped from over $60 per barrel at the beginning of 2020 to well below $30 per barrel. The current per barrel prices are below many major producers’ breakeven prices. 

Take a look.

 

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