2004 Oil Oil Prices United States 
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APRIL 6, 2017
On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 Russia’s Oil Production 1970-2020 and Russia’s Deep-Hole Oil & Gas Exploration Drilling. In 2016, only 3.7
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SEPTEMBER 20, 2011
Between 2004 and 2008, global energy intensity experienced its sharpest decline in 30 years, with an average annual growth rate of 1.87%. In addition to technological advances, price developments play a key role in determining overall energy usage, Worldwatch notes.
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AUGUST 30, 2009
The oil price shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil.
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