The history of oil

This report presents a range of facts relating to the history of oil. Oil consumption rose to prominence across the world in the early 20^th century, and is the most commonly-used fossil fuel today. Since the founding of OPEC in 1960, prices have become much more volatile, and it has played a much greater role in geopolitics. The history of oil report includes data relating to prices, production, consumption, trade, and the impact of major crises and events in history.